Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate
2025-07-14 18:13:47
Main Idea
ZachXBT tracked $40M in crypto stolen from a $140M fiat theft in Brazil, froze $5M, and criticized Circle for not assisting in the investigation.
Key Points
1. A cyberattack on C&M, a software provider, resulted in $140M stolen via insider access bought for $3,000.
2. ZachXBT traced $40M converted to cryptocurrencies (Bitcoin, Ethereum, USDT) and froze $5M across exchanges like Binance, Bitso, and Bybit.
3. ZachXBT publicly criticized Circle for refusing to cooperate in the blockchain investigation.
4. The operation initially went unnoticed, with no public alerts from authorities or banks.
5. Tracking efforts are ongoing, with the actual total of crypto moved or held in unknown wallets potentially higher.
Description
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 institutio...
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