Over $106 million stolen from EU crypto accounts, attacker swaps funds for ETH and XMR

An unidentified entity within the European Union reportedly lost more than $106 million from accounts held at several cryptocurrency exchanges on Sunday, according to blockchain investigator ZachXBT. ZachXBT reported that the funds, believed to be illicitly withdrawn, were initially moved out in the stablecoins USDC and USDT. The suspected perpetrator quickly converted these assets into Ether (ETH), then utilized rapid exchange platforms such as WellWallet and Kyrrex, platforms designed for instant crypto asset swaps. Investigators stated that after these conversions, the attacker further obscured the funds’ path by exchanging assets for Monero (XMR) through the crypto swap service Wagyu.