On-chain investigator ZachXBT said in a community alert that an EU entity was allegedly attacked on November 1, with losses exceeding $106 million. According to Odaily, multiple centralized exchange accounts were compromised, and the attacker withdrew funds in USDC and USDT.

Over the past 24 hours, the attacker has continued converting USDC to ETH, sending it to instant-swap platforms including WellWallet and Kyrrex, and converting it to Monero (XMR) through Wagyu. The attacker has also used cross-chain bridges to move funds across multiple blockchain networks. ZachXBT published 11 addresses involved in the incident and urged the community to monitor the funds’ movements.