🚨 Massive $106M Crypto Exploit Alert: Unidentified EU Entity Targeted
On-chain investigator ZachXBT has flagged a major security incident involving an unnamed EU-based entity that reportedly lost over $106 million from centralized exchange accounts on November 1.
Key Highlights of the Incident:
>> Initial Drain: The attacker drained stablecoins (USDC and $USDT ) across multiple centralized exchange accounts.
>> Quick Conversion: Over $63M in USDC was rapidly swapped into $ETH to prevent centralized issuers from freezing the stolen assets.
>> Laundering Route: The hacker routed funds through instant platforms (including WellWallet and Kyrrex), cross-chain bridges, and privacy coin $XMR (Monero) to obfuscate the paper trail.
>> Lazarus Group Excluded: ZachXBT noted with high confidence that the attack pattern does not match North Korea's Lazarus Group.
Neither the identity of the victim nor the targeted exchanges have been publicly disclosed yet, but 11 associated wallet addresses have been published to trace the funds.
Stay vigilant with your exchange accounts and ensure strict security measures like hardware 2FA are enabled!
What are your thoughts on privacy coins and instant exchanges being used to launder stolen funds? Let's discuss in the comments below! 👇
#writetoearn #CryptoSecurity #zachxbt #cryptohacks #Web3Security
On-chain investigator ZachXBT has flagged a major security incident involving an unnamed EU-based entity that reportedly lost over $106 million from centralized exchange accounts on November 1.
Key Highlights of the Incident:
>> Initial Drain: The attacker drained stablecoins (USDC and $USDT ) across multiple centralized exchange accounts.
>> Quick Conversion: Over $63M in USDC was rapidly swapped into $ETH to prevent centralized issuers from freezing the stolen assets.
>> Laundering Route: The hacker routed funds through instant platforms (including WellWallet and Kyrrex), cross-chain bridges, and privacy coin $XMR (Monero) to obfuscate the paper trail.
>> Lazarus Group Excluded: ZachXBT noted with high confidence that the attack pattern does not match North Korea's Lazarus Group.
Neither the identity of the victim nor the targeted exchanges have been publicly disclosed yet, but 11 associated wallet addresses have been published to trace the funds.
Stay vigilant with your exchange accounts and ensure strict security measures like hardware 2FA are enabled!
What are your thoughts on privacy coins and instant exchanges being used to launder stolen funds? Let's discuss in the comments below! 👇
#writetoearn #CryptoSecurity #zachxbt #cryptohacks #Web3Security
