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Mystery $106 Million Crypto Theft Hits EU Entity Days After Binance Hack
An unnamed European Union entity is suspected of losing more than $106 million in cryptocurrency after an illicit actor withdrew funds from several centralised exchange accounts on 1 November. The theft adds to a week of major security incidents across the crypto industry, though the attacker and victim have not been identified.
On-chain investigator ZachXBT said the funds were taken as USDC and USDT, then moved through swaps, instant exchange services, Monero and bridges between blockchains. He said with a high degree of confidence that the attacker was not North Korea’s Lazarus Group. It is unclear whether any funds have been frozen; in the separate $6.4 billion Binance hack, stablecoin issuers froze about 44% of the stolen funds.
In short
- An EU entity is suspected of losing more than $106 million in crypto.
- The attacker moved funds through swaps, Monero and cross-chain bridges.
- ZachXBT said the culprit was likely not North Korea’s Lazarus Group.
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