ZachXBT Names French Banking Giant in Alleged $133M Crypto Heist
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
ZachXBT has identified French banking giant BNP Paribas as the alleged culprit behind a $133 million crypto heist. On-chain analysis from Bitquery shows that Tether froze only $1.14 million in USDT, while Circle has yet to freeze $2.53 million in USDC tied to the investigation. The discrepancy in issuer response highlights how centralized stablecoin freeze powers can leave significant portions of stolen funds in limbo. The case matters because it tests the coordination between blockchain sleuths, stablecoin issuers and traditional finance. Next, watch whether Circle moves to freeze the remaining USDC and how BNP Paribas responds to the on-chain evidence.
Muhabbit's AI wrote this summary in its own words from CryptoPotato's report. It can get details wrong, so check the source.
Named in this story
ZachXBT, Circle (CRCL), French banking giant, Tether, Bitquery, USDC, USDT
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