EU entity suspected of losing $106 million from crypto exchange accounts, ZachXBT says

An unidentified European Union-based entity is suspected of losing approximately $106 million from cryptocurrency exchange accounts, according to blockchain investigator ZachXBT. The attacker allegedly moved the stolen funds through ether, instant exchanges, and the privacy coin Monero, making tracing difficult. The victim and the affected exchanges have not been publicly identified. This incident highlights the persistent security risks facing institutional crypto holders, even in regulated jurisdictions. The use of instant exchanges and Monero suggests a sophisticated effort to obscure the money trail. As crypto adoption grows, so does the need for robust security practices and rapid incident response. The case may prompt further scrutiny of exchange security and cross-border crypto crime.