$106 million stolen from EU entity, ZachXBT excludes Lazarus link

An unnamed entity in the European Union reportedly lost over $106 million following an unauthorized withdrawal from multiple accounts on centralized cryptocurrency exchanges. The incident, which occurred on Sunday, involved the theft of USDC and USDT stablecoins and has amplified security concerns in the industry, coming just days after a record-setting hack at Binance. According to ZachXBT, the thief first converted the USDC and USDT into Ethereum, then utilized instant exchanges to rapidly swap assets, moving the proceeds into Monero, a cryptocurrency favored for its privacy features.

Also reported by Unchained.

Source: CoinTurk News