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Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate


by Coin Edition
for CoinEdition
  • ZachXBT tracked $40M in crypto after a $140M fiat theft via a C&M insider breach in Brazil.
  • $5M in crypto has been frozen with help from Binance, Tether, Bitso, Bybit, and Chainalysis.
  • ZachXBT publicly criticized Circle for not cooperating in the blockchain investigation.

A cyberattack on C&M, a software provider connected to the Central Bank of Brazil, led to a major financial breach on June 30. Hackers stole $140 million in fiat currency from reserve accounts linked to six financial institutions.

According to a developer’s claim, the attackers bought access credentials for just $3,000. This insider access gave them full entry to banking systems. ZachXBT confirmed that this matched the timeline of the incident he had been investigating.

Once inside, the attackers moved the stolen funds. ZachXBT said that about $40 million was converted from fiat to cryptocurrencies, including Bitcoin, Ethereum, and USDT. The operation went unnoticed at first, with no public alerts from authorities or the banks.

ZachXBT Traced Crypto Laundering Across Brazilian Exchanges

ZachXBT began tracking the movement of crypto soon after the incident. He noticed unusual volum…

The post Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key

Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key

The global crypto exchange BigONE reported a $27 million loss on July 16 after a targ...
Crypto Exchange BigONE Confirms $27M Hack, Vows Full User Compensation

Crypto Exchange BigONE Confirms $27M Hack, Vows Full User Compensation

BigONE is working with blockchain security firm SlowMist to track the stolen assets, ...

Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate


by Coin Edition
for CoinEdition
  • ZachXBT tracked $40M in crypto after a $140M fiat theft via a C&M insider breach in Brazil.
  • $5M in crypto has been frozen with help from Binance, Tether, Bitso, Bybit, and Chainalysis.
  • ZachXBT publicly criticized Circle for not cooperating in the blockchain investigation.

A cyberattack on C&M, a software provider connected to the Central Bank of Brazil, led to a major financial breach on June 30. Hackers stole $140 million in fiat currency from reserve accounts linked to six financial institutions.

According to a developer’s claim, the attackers bought access credentials for just $3,000. This insider access gave them full entry to banking systems. ZachXBT confirmed that this matched the timeline of the incident he had been investigating.

Once inside, the attackers moved the stolen funds. ZachXBT said that about $40 million was converted from fiat to cryptocurrencies, including Bitcoin, Ethereum, and USDT. The operation went unnoticed at first, with no public alerts from authorities or the banks.

ZachXBT Traced Crypto Laundering Across Brazilian Exchanges

ZachXBT began tracking the movement of crypto soon after the incident. He noticed unusual volum…

The post Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key

Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key

The global crypto exchange BigONE reported a $27 million loss on July 16 after a targ...
Crypto Exchange BigONE Confirms $27M Hack, Vows Full User Compensation

Crypto Exchange BigONE Confirms $27M Hack, Vows Full User Compensation

BigONE is working with blockchain security firm SlowMist to track the stolen assets, ...