# $238M Bitcoin Heist

*Crypto Detective ZachXBT Reveals $238M Bitcoin Heist*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-08-20

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Blockchain sleuth ZachXBT has unearthed a massive $238 million Bitcoin theft involving 4,064 BTC. The stolen funds were quickly dispersed across platforms like ThorChain, KuCoin, and Avalanche Bridge, suggesting a sophisticated laundering scheme.

The stolen Bitcoin's trail leads back to two addresses tied to Genesis Trading, a firm that recently filed for bankruptcy. One address received $37.7M just before the theft, while another had received $127M from Genesis two years ago.

With rising crypto hacks, speculation is swirling on X about Lazarus Group’s involvement. However, ZachXBT believes the tactics used don't match their usual methods.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/dollar238m-bitcoin-heist)*