On-Chain Trace Links $108.8M in Exchange Withdrawals to 15 Wallets

A total of $108.8 million in USDC was withdrawn from Ethereum wallets tied to Kraken, OKX and Crypto.com and sent to 15 destinations over Nov. 1 and 2. 11 destinations had received earlier payments from the same exchanges and collectively took 84% of the traced funds. Four newly used wallets received $17.27 million. Kraken accounted for 95% of the total. The first identified withdrawal left OKX at 7:25 a.m. ET Nov. 1; the last arrived at 4:09 a.m. ET Nov. 2.