In Europe, they may be concealing a crypto hack involving $133,000,000.

[greysonz]

The well‑known online detective ZachXBT has discovered additional withdrawals of funds by the attacker from crypto exchanges amounting to $27 million. The total amount of the alleged theft has increased from $106 million to $133 million.
According to him, the victim of the attack was a large financial institution in Western Europe, which is now trying to cover up the incident. And due to the lack of public disclosure, the hacker managed to launder more than $30 million, which could have been frozen by EU law enforcement agencies.
The name of the affected organization was not yet known, and the theory about the concealment of the hack has not been confirmed. But personally, I think this could well have happened.

[OmegaStarScream]

It looks like Kraken did restrict the accounts in question:

https://ct.com/news/zachxbt-eu-crypto-theft-133m-alleged-cover-up

I'm more inclined to think that this might have been simply an unauthorized access from people close to the entity, as opposed to be hack because if it's an insitution, you would think that it should not be that easy to gain access to... Maybe it would at the very least requires a Yubi key to access it.

[greysonz]

It looks like Kraken did restrict the accounts in question:

https://ct.com/news/zachxbt-eu-crypto-theft-133m-alleged-cover-up

I'm more inclined to think that this might have been simply an unauthorized access from people close to the entity, as opposed to be hack because if it's an insitution, you would think that it should not be that easy to gain access to... Maybe it would at the very least requires a Yubi key to access it.

I see crypto.com also stated: "We blocked the movement of related funds through our platform." I'm inclined to think it's not the North Koreans this time, as ZachXBT claims. I wonder what kind of organization decided to remain silent and treat its clients so disrespectfully? Their balance has already dropped by 130 million, which is being successfully laundered.
https://cointelegraph.com/news/zachxbt-eu-crypto-theft-133m-alleged-cover-up

[sunsilk]

I wonder what kind of organization decided to remain silent and treat its clients so disrespectfully?

That's how they protect themselves instead of protecting their users fund through their security. It's not a way to control the damage but to hide the truth from their customers.

If ever goes back in normal, users of this exchanges needs to be urged to withdraw their funds and don't trust them ever again.

While it's not announced so it won't caused panic but, they did their customers dirty by hiding this incident.

[Bitcoin_Arena]

Wondering how they got to know that the service was from Western Europe if at the time of reporting they had no idea about the service that may have been hacked

I'm inclined to think it's not the North Koreans this time, as ZachXBT claims.

I believe North Korea has always just been the scapegoat. I don't think all the previous huge hacks all originated from North Korea. Someone or a group of members is just trying to do a cover-up.

[Murat]

Wondering how they got to know that the service was from Western Europe if at the time of reporting they had no idea about the service that may have been hacked

Update 2: Disclosing the EU financial institution exploited for $133M+ is allegedly Credit Mutuel Arkea, a French bank with $235B in assets.

The attack on the bank occurred for multiple days. I suspect the amount stolen is larger when accounting for OTC activity.

Source <> https://t.me/investigations/375

[Ashawowo(OS)]

Wondering how they got to know that the service was from Western Europe if at the time of reporting they had no idea about the service that may have been hacked

Update 2: Disclosing the EU financial institution exploited for $133M+ is allegedly Credit Mutuel Arkea, a French bank with $235B in assets.

The attack on the bank occurred for multiple days. I suspect the amount stolen is larger when accounting for OTC activity.

Source <> https://t.me/investigations/375

I don't think it is still alleged. According to Ledger Insights, The bank has confirmed that they were attacked which led to fraudulent transactions, their statement below

“Crédit Mutuel Arkéa has been the target of an attack that enabled the execution of fraudulent transactions. The incident is now under control,” the bank said in a statement to Ledger Insights. It added that “this incident has no financial impact on [clients]; their interests are fully protected.”

https://www.ledgerinsights.com/credit-mutuel-arkea-confirms-it-was-the-target-of-suspected-133m-crypto-theft/#:~:text=%E2%80%9CCr%C3%A9dit,protected%2E%E2%80%9D

It's a nice step to bear the loss and not impact users fund, the institution is worth €211.6 billion, so absorbing a $133 million loss shouldn't be much of a problem.

[hugeblack]

I wonder what kind of organization decided to remain silent and treat its clients so disrespectfully?

I can provide several reasons, for example:

1) Their ability to compensate customers.
2) Preventing panic: since panic could lead to larger-scale withdrawals and a loss of trust in the service, resulting in losses far exceeding the amounts that were actually hacked.
3) The fact that such a hack raises further questions, implying that they may need to conduct a comprehensive review of their entire system's security which, in turn, could further undermine customer confidence.