[Wu Blockchain News] ZachXBT: EU entity suspected of losing over $106M in crypto theft On-chain inve...

An EU-based entity is suspected of losing more than $106 million from multiple centralized exchange accounts on November 1, according to on-chain investigator ZachXBT. The suspected attacker withdrew the funds in USDC and USDT and has been actively swapping USDC for ETH, moving assets through instant exchange services including WellWallet and Kyrrex, converting funds into privacy coin XMR via Wagyu, and bridging assets across multiple blockchains. The identity of the affected entity and the method of the suspected theft remain undisclosed, and the reported losses have not been independently confirmed. The scale of the suspected loss makes it one of the larger crypto theft incidents of the year and highlights the continued concentration of risk in centralized exchange accounts. Traders will watch for confirmation of the loss and disclosure of the affected entity, while the attacker's USDC-to-ETH swaps and XMR conversions may add to near-term selling pressure and complicate tracing of the funds.