Blockchain investigator ZachXBT has flagged a suspected theft exceeding $106 million from multiple centralised exchange accounts.

The unidentified European Union entity reportedly lost funds on November 1, with attackers withdrawing assets through multiple accounts.

“While the illicit actor remains unidentified, I can say with a high degree of confidence it is NOT Lazarus Group,” ZachXBT said in a post on Telegram.

The suspected attacker swapped USD Coin (USDC) for Ethereum (ETH) before routing funds through instant exchange services.

The attacker also converted funds into Monero (XMR) through Wagyu before bridging assets across multiple blockchain networks.

ZachXBT identified 11 wallet addresses linked to the suspected theft, providing…