EU entity reportedly loses over $106 million in crypto heist

An unidentified European Union based corporate entity has reportedly suffered a security breach resulting in the theft of over $106 million across multiple centralized exchange accounts. According to on-chain investigator ZachXBT and data from Bitquery, the coordinated intrusion targeted institutional trading accounts, allowing attackers to execute rapid unauthorized withdrawals.

Forensic analysis indicates the exploiter moved quickly to convert stolen stablecoins into Ethereum to avoid the blacklisting capabilities of centralized assets. The attacker reportedly converted approximately $62.97 million into 27,553 ETH using decentralized exchange routers.

Bitquery reports that $108.8 million in USDC left three exchange accounts, including OKX, Kraken, and Crypto.com. Notably, eleven of the fifteen receiving wallets had previously received payouts from these exchanges. One wallet received 43 separate withdrawals from Kraken within a 91 minute window, suggesting an attempt to bypass individual withdrawal limits. The victim has not officially confirmed the loss.