Lookonchain Flags Address Behind 27,553 Ether Buy Over Suspected Theft Link

Lookonchain flagged an Ethereum address that bought 27,553 Ether (ETH) for about $62.97 million as potentially linked to a theft of more than $106 million from an EU company's centralized exchange accounts.

The address's average on-chain purchase price was about $2,286 per ETH. Funds tied to the wallet later moved through several platforms. The 27,553 ETH acquisition and the larger theft figure describe different amounts: the first is the value of the wallet's Ether purchase, while the second is the suspected loss at the EU company.

ZachXBT, an on-chain investigator, had previously said the company was suspected of losing more than $106 million from multiple centralized exchange accounts. Lookonchain's update raises a possible connection between the ETH-buying address and those account losses. The claim stops short of identifying the address operator as the thief. The large purchase had earlier drawn attention as a whale-sized Ethereum buy.