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

The EU-based entity suspected of losing $106 million from its crypto exchange accounts, as flagged by on-chain investigator ZachXBT, moved the stolen funds through ether, instant exchanges and Monero, obscuring the trail. The attacker's identity, the victim and the exchanges involved remain unknown, and no protocol has confirmed a loss. The incident underscores persistent security and laundering risks in crypto, with Monero's privacy features complicating recovery efforts. Watch for further disclosures from ZachXBT, potential exchange freeze requests and whether the victim comes forward.