EU Entity Suspected of Losing $106M in Crypto Exchange Heist: ZachXBT

An unidentified European Union entity may have lost more than $106 million in cryptocurrency after an attacker withdrew funds from multiple centralized exchange accounts, according to blockchain investigator ZachXBT. The stolen funds included stablecoins, much of which the attacker converted into Ether and Monero, a privacy coin often used to obscure fund flows. ZachXBT disclosed the theft in a Telegram post, tracing the movement of assets across multiple exchanges. The incident underscores persistent security risks facing centralized exchange custody, even for institutional-scale holders. Watch for follow-up disclosures identifying the affected EU entity, potential exchange freezes on the stolen funds, and further laundering attempts through mixers or privacy-focused chains.