WuBlockchain
On-chain investigator ZachXBT reported that an EU-based entity is suspected of losing more than $106 million from multiple centralized exchange accounts on November 1. The suspected attacker withdrew USDC and USDT and has been moving the funds through swaps, instant exchange services and cross-chain bridges.
Why it matters
The activity includes swapping USDC for ETH, using WellWallet and Kyrrex, and converting funds into privacy coin XMR via Wagyu. The identity of the affected entity and the suspected theft method have not been disclosed.
Market impact
The reported loss has not been independently confirmed. The movement of funds across services, assets and blockchains makes this a developing on-chain investigation, rather than a confirmed accounting of losses.
Frequently asked questions
-
How much was the EU-based entity suspected of losing?
ZachXBT reported suspected losses of more than $106 million from multiple centralized exchange accounts.
-
Which assets were withdrawn from the exchange accounts?
The suspected attacker withdrew funds in USDC and USDT, then reportedly swapped USDC for ETH.
-
Which services were reportedly used to move the funds?
The funds were reportedly routed through instant exchange services including WellWallet and Kyrrex, and through cross-chain bridges.
-
How did the suspected attacker use privacy coin XMR?
The funds were reportedly converted into XMR via Wagyu.
-
Have the theft and reported losses been confirmed?
No. The losses have not been independently confirmed, and the affected entity's identity and the suspected theft method remain undisclosed.
TheBlock
CoinTelegraph
CoinDesk
Crypto News
WatcherGuru
Lookonchain
CryptoSlate