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$106 Million Suspected Stolen From EU Entity as Funds Flow Into Monero: ZachXBT
The onchain investigator did not name the victim or the exchanges involved, but he published 11 addresses and a TRM Labs graph tracing the funds toward Monero and a Tron bridge.
Dextape brief
An alert from onchain investigator ZachXBT says more than $106 million may have been taken on November 1 from an EU entity's accounts at several exchanges. He posted it on Telegram on November 2 and said he is highly confident North Korea's Lazarus Group was not responsible. The post does not identify the victim, the exchanges or the access method, and no loss had been publicly confirmed. According to the alert, the thief swapped USDC for ETH shortly before the post, sent funds to instant exchanges including WellWallet and Kyrrex, converted part to Monero, and bridged assets across chains. A flow graph credited to ZachXBT, Specter and TRM Labs shows about 2.64 million USDC moving on November 2. Binance's hot wallets were drained on October 29, an incident TRM Labs linked to TraderTraitor, a North Korean hacking unit.
Why it matters: It shows how stolen exchange funds can be routed through swaps, instant exchanges and Monero, where the trail becomes much harder to follow.
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Terms in this story
- Bridge
- A system that moves assets or messages between blockchains, usually by locking or burning on one side and releasing or minting on the other.
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