EU Entity Loses Over $106M in Exchange Breach as Hacker Launders Funds

An unnamed European Union entity suffered a major breach across centralized exchange accounts, losing over $106 million. The attacker extracted the stolen capital in USDC and USDT before aggressively swapping the stablecoins into Ether to evade issuer blacklists, including a flagged purchase of 27,553 ETH for roughly $62.97 million at an average price of $2,286. On-chain investigators ZachXBT, TRM Labs, and Lookonchain identified at least 11 linked Ethereum addresses. Funds were subsequently laundered via instant swap services like Kyrrex, WellWallet, and Wagyu into Monero, while 2,200 ETH was bridged to Tron.