EU Entity May Have Lost More Than $106 Million in Crypto

An unidentified European Union entity may have lost more than $106 million in cryptocurrency after funds were withdrawn from multiple exchange accounts on November 1, blockchain investigator ZachXBT reported. The suspected theft has not been independently confirmed, and neither the entity nor the exchanges involved have been identified publicly. ZachXBT said the funds were taken as USDC and USDT, dollar-pegged stablecoins. He identified 11 wallet addresses associated with the suspected theft and described a route that moved assets through several exchanges and blockchains. The suspected attacker has not been identified. According to ZachXBT’s tracing, the funds were swapped into ether, or ETH, and sent through instant exchange services including WellWallet and Kyrrex. Some were then converted into Monero through the swap service Wagyu before assets moved across multiple blockchains. The reported sequence describes the movement of funds; it does not establish how the accounts were accessed or whether exchange systems were breached. ZachXBT said he had high confidence that Lazarus Group was not responsible, based on indicators in the movement of funds. He did not name another...