- A single Bitcoin investor lost $330 million in a major hack, with funds laundered through multiple wallets and exchanges.
- The stolen BTC was converted to Monero (XMR), causing a spike in its value and raising concerns about crypto security.
- If confirmed, this hack ranks among the largest in history, surpassing incidents like KuCoin ($280M, 2020) and Bitmart ($196M, 2021).
According to a recent report, a major hacking incident took place on Sunday when over $300 million in Bitcoin was allegedly stolen from a single wallet.
When talking about such a large amount of money being stolen, the victims are usually companies or crypto exchanges, which are known to move billions of dollars in digital assets every day.
However, according to a report from crypto analyst Cas_Abbe, a single investor lost $330 million in Bitcoin. The alleged perpetrator laundered the money through multiple wallets and exchanges, “layering” the funds to try and make them harder to trace.
The victim (bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g) was said to be one of Bitcoin’s first investors, holding a massive stash since the early days.
Initially, the fund was converted to Monero (XMR), causing the altcoin to see a sudden spike in value by Sunday night.
Even Bitcoin was affected by the large sum of funds suddenly leaving the market, with prices briefly dipping as traders reacted to the massive outflow.
If the hacking is confirmed, the significant size of funds stolen means it ranks as one of the largest crypto thefts in history. With $330 million stolen, the incident involves more money than major industry incidents like the KuCoin $280 million hack (2020) and the Bitmart $196 million hack (2021).
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