An anonymous European Union organization may have dropped over $106 million worth of digital assets from balances maintained across several digital currency platforms on Sunday, based on information shared by on-chain analyst ZachXBT, though these damages are still unverified by independent sources.
The designation entity encompasses various types of groups, including a corporation, proprietary trading shop, or pooled fund. ZachXBT refrained from clarifying which one applied.
Via a Monday Telegram alert, ZachXBT pointed out that the alleged hacker drained balances in USDC and USDT, both pegged to the United States dollar, prior to cycling the capital across multiple digital coins and ledger networks.
During the subsequent full day, the culprit swapped USDC for ether ETH$2,257.04, routed money via rapid-swap platforms such as WellWallet and Kyrrez, and shifted a portion into privacy coin Monero (XMR) utilizing Wagyu, according to ZachXBT.
Monero masks transaction specifics, complicating the tracking of ill-gotten capital. Contrasting with USDC and USDT, whose creators retain the capacity to freeze tokens, neither ether nor Monero can be frozen by a centralized entity.
ZachXBT shared 11 crypto wallets connected to the alleged burglary while withholding the identity of the victim and the impacted trading platforms. He likewise omitted details regarding how the perpetrator gained entry to the balances. The claimed losses lack independent verification.
The sleuth additionally dismissed one major suspect.
“Although the bad actor stays anonymous, I am extremely confident that this is NOT the Lazarus Group given several money-laundering signals,” ZachXBT noted.
This suspected breach happens shortly after cybercriminals siphoned roughly $6.4 billion from Binance, an incident linked by the FBI to the TraderTraitor collective of North Korea, which connects to Lazarus. BTCPay advised users to power down servers following news of emptied wallets, alongside Mercado Bitcoin in Brazil, which apparently faced a digital asset theft near $40 million.
Neither the targeted European Union organization nor the involved trading venues have issued public confirmations regarding this recent alleged breach.
Originally published at https://www.coindesk.com/tech/2026/11/02/eu-entity-suspected-of-losing-usd106-million-from-crypto-exchange-accounts-zachxbt-says.
