On-chain investigator ZachXBT reported that an EU-based entity lost more than $106 million from multiple centralized exchange accounts on November 1. The stolen funds were withdrawn in USDC and USDT stablecoins. According to ZachXBT's Telegram alert, the perpetrator has spent the past 24 hours converting USDC into ETH, routing funds through instant exchange platforms including WellWallet and Kyrrex, swapping to Monero (XMR) via Wagyu, and distributing assets across multiple blockchains. Eleven addresses linked to the incident have been publicly disclosed for community tracking.