ZachXBT Suspects Cover-Up as Tally on Suspected EU Theft Climbs to $133 Million

On-chain investigator ZachXBT now estimates a suspected theft affecting European Union institutions at $133 million, up from an initial tally of about $1.5 million, with no institution yet coming forward to claim the loss. The funds, traced across multiple chains, continued moving off exchanges even after ZachXBT's first alert, prompting him to suspect a possible cover-up. The stolen assets include stablecoins and other tokens bridged or swapped through services such as Tornado Cash, with the investigator flagging specific deposit addresses to exchanges. The incident underscores persistent security gaps in institutional crypto custody and the limits of exchange-based freeze requests when no victim formally reports the theft. Watch for whether an EU institution confirms the breach, whether exchanges freeze or return any of the $133 million, and whether ZachXBT publishes a full post-mortem tracing the funds' final destinations.