European entity suspected in $106M crypto theft; linked address spent $62.97M on ETH

ChainCatcher reports, citing Lookonchain monitoring, that a European entity is suspected of losing more than $106 million in crypto assets. A related address previously spent $62.97 million onchain to buy 27,553 ETH at an average price of $2,286. ZachXBT, an onchain investigator, said earlier that the entity allegedly lost assets from multiple centralized exchange accounts, with the funds withdrawn in USDC and USDT. The Lookonchain fund-flow diagram links the purchase addresses to addresses tied to the incident.

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