Bitquery: Suspected EU Entity's Stolen Funds Used to Purchase 27,553 ETH

On November 3, on-chain analytics firm Bitquery reported that an address linked to stolen funds from an apparent European Union entity breach spent roughly $62.98 million in stablecoins via UniswapX to purchase 27,553 ETH over approximately four hours at an average price near $2,286. The swap had initially been flagged by on-chain monitors as a whale accumulation, but Bitquery's tracing of previously disclosed addresses and fund flows tied the transaction to the suspected theft. The finding matters because it suggests stolen funds are already being converted into ETH through decentralized liquidity, complicating recovery efforts and attribution. Watch for further movement of the 27,553 ETH, potential transfers to mixing services or exchanges, and any official confirmation from the affected EU entity.