EU entity loses over $106M as attackers convert stablecoins into Monero

AI-assisted source summary · not independently verified. Content standards

An unnamed EU organization may have had more than $106 million transferred from accounts at multiple centralized exchanges. The attackers rapidly converted the stolen funds, primarily in USDC and USDT, into Ether and then into Monero. The funds moved through Kyrrex, WellWallet, Wagyu and cross-chain bridges; researchers disclosed 11 related addresses, but the likelihood of recovering the funds remains low.