USDC and USDT stolen, ETH swapped, XMR obscured: Inside a $106M EU hack

In an unexpected turn of events, a suspected theft of more than $106 million from a European Union [EU]-based entity has raised a fresh wave of concern in the crypto community. According to pseudonymous blockchain investigator ZachXBT, on the 1st of November, an unidentified attacker drained funds from accounts held across multiple centralized cryptocurrency exchanges. The suspected stolen assets included Circle [USDC] and Tether [USDT]. Laundering was also part of the game plan Following the suspected theft, the attacker reportedly began moving the funds through a series of transactions to make them harder to trace and potentially recover. To begin with, the illicit actor initially swapped the stolen USDC and USDT into Ethereum [ETH]. The attacker then transferred the ETH to instant cryptocurrency exchanges, including WellWallet and Kyrrex.

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