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ZachXBT’s In-Depth Investigation Exposes Massive Brazilian Bank Hack
A recent revelation by renowned crypto sleuth ZachXBT has shed light on a staggering $140 million theft in Brazil. The hacking incident, which involves the breach of a Central Bank of Brazil services provider called C&M, has left the crypto community reeling.
According to ZachXBT’s findings, approximately $5 million of the stolen funds have been frozen across various platforms, including Tether, Binance, Bitso, Bybit, and Chainalysis. The crypto detective emphasized that these figures are preliminary and may not reflect the actual extent of the damage.
ZachXBT has criticized Circle’s industry role in his analysis, stating that their lack of cooperation hampers efforts to protect the crypto space from such threats. His criticism echoes sentiments voiced by other experts within the community, who stress the importance of inter-industry coordination and transparency in times of crisis.
Meanwhile, ZachXBT’s investigation highlighted a peculiar aspect – the hackers exploited a developer’s access credentials sold for $3,000, which granted them entry to systems, allowing them to initiate the heist.
Source: cryptoslate.com
