A major scandal has erupted in the cryptocurrency world with the discovery of a suspicious $238 million transaction on the blockchain. This operation has caught the attention of many experts and users.
Suspicious Transaction Detected
The blockchain tracking service Whale Alert detected a suspicious transaction of 4064 bitcoins (approximately $238 million). This operation was studied by the well-known on-chain investigator ZachXBT.
Tracking the Stolen Funds
ZachXBT reported that the stolen bitcoins were quickly transferred to multiple platforms such as ThorChain, KuCoin, ChangeNow, eXch, Avalanche Bridge, and Railgun, making it difficult to trace the funds. The investigator noted that the funds were dispersed across multiple wallets.
Suspicions and Investigations
The investigation established that the embezzled money might be linked to a major crypto-lending market player, Genesis Global Trading. Two addresses traceable to Genesis Trading contained 642 and 376 bitcoins respectively, while another wallet had 2173 bitcoins. ZachXBT also noted that the behavior of the stolen funds did not match the typical modus operandi of the Lazarus hacking group, which was previously suspected of the theft.
The inquiry continues to explore the possible involvement of Genesis Global Trading in this incident. Further details are expected soon.
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