On-chain investigator ZachXBT has reported a potential theft exceeding $106 million in USDC and USDT from accounts linked to an unnamed European organization across several centralized exchanges. The incident occurred on November 1. In the following days, the alleged thief actively exchanged USDC for ETH, utilized instant exchange services like WellWallet and Kyrrex, converted assets into Monero (XMR) via Wagyu, and moved funds across blockchains. Based on the identified laundering methods, ZachXBT expressed a high degree of confidence in ruling out the North Korean group Lazarus Group as being involved in the attack.