On-Chain Trace Links $108.8M in Exchange Withdrawals to 15 Wallets

A total of $108.8 million in USDC was withdrawn from Ethereum wallets tied to Kraken, OKX and Crypto.com and sent to 15 destinations over Nov. 1 and 2.

11 destinations had received earlier payments from the same exchanges and collectively took 84% of the traced funds. Four newly used wallets received $17.27 million. Kraken accounted for 95% of the total. The first identified withdrawal left OKX at 7:25 a.m. ET Nov. 1; the last arrived at 4:09 a.m. ET Nov. 2.

UniswapX trades converted about $62.98 million in USDC and USDT into 27,553 ETH, at an average price of about $2,286 per coin. At 8:47 a.m. ET on Nov. 2, addresses linked to the suspected actor held $78.27 million, including $3.74 million in USDC.

ZachXBT’s Nov. 1 alert described an unnamed EU entity as suspected of losing more than $106 million from exchange accounts. The trace does not establish how the wallets were accessed. It adds exchange-wallet and recipient-history details to TokenPost’s earlier coverage of the 27,553 ETH purchase.