UPDATE: ZachXBT traces suspected $133M EU theft through exchanges to Monero
CIE News ·
Update to UPDATE: ZachXBT raises suspected EU crypto theft estimate to $133M
Based on reporting by a single news outlet; not yet independently confirmed.
ZachXBT alleged a European institution concealed a breach as suspected stolen funds reached $133 million across exchanges like Kraken and OKX before swaps into Monero.
Suspected unauthorized withdrawals tied to an unidentified Western European financial institution have reached more than $133 million across Kraken, Crypto.com, and OKX, according to on-chain investigator ZachXBT. As previously reported, initial estimates pegged the losses at $106 million before an additional $27 million in exchange withdrawals was identified on November 3, 2026. ZachXBT noted that several withdrawals occurred even after his initial public alert.
According to ZachXBT, about $108.8 million in USD Coin (USDC) and Tether (USDT) moved across 15 addresses. The perpetrator swapped the stablecoins for 27,553 Ether (ETH) and converted funds into Monero (XMR) through platforms including Wagyu, Kyrrex, and WellWallet. ZachXBT said transaction patterns show North Korea's Lazarus Group is likely not responsible.
ZachXBT alleged that the victim entity has been concealing the exploit, arguing that the absence of a timely public disclosure prevented law enforcement and asset issuers from freezing more than $30 million in stablecoins before they were laundered. According to Unchained, no institution, exchange, or regulatory body has officially confirmed or denied the breach.
Key facts
- $133M+ alleged loss
- Kraken, OKX, Crypto.com named
- Swapped for 27,553 ETH
- Laundered into Monero
Read the original at unchainedcrypto.com