ZachXBT flags suspected $106M crypto theft from EU entity
Key points
- Blockchain investigator ZachXBT flagged a suspected theft exceeding $106 million from multiple centralised exchange accounts linked to an unidentified EU entity.
- The attacker allegedly withdrew funds in USDC and USDT before swapping assets into Ethereum (ETH) and Monero (XMR).
- The investigation highlights risks involving centralised exchange accounts, cross-chain transfers and cryptocurrency laundering routes.
Blockchain investigator ZachXBT has flagged a suspected theft exceeding $106 million from multiple centralised exchange accounts.
The unidentified European Union entity reportedly lost funds on November 1, with attackers withdrawing assets through multiple accounts.
“While the illicit actor remains unidentified, I can say with a high degree of confidence it is NOT Lazarus Group,” ZachXBT said in a post on Telegram.
The suspected attacker swapped USD Coin (USDC) for Ethereum (ETH) before routing funds through instant exchange services.
The attacker also converted funds into Monero (XMR) through Wagyu before bridging assets across multiple blockchain networks.
ZachXBT identified 11 wallet addresses linked to the suspected theft, providing investigators with transaction trails to examine.
The affected entity and exchanges remain unnamed, while the attacker's identity and destination of the funds remain unclear.
The suspected theft highlights the risks of exchange account compromises and cross-chain cryptocurrency laundering.
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