Analysis: The address suspected of being stolen funds by an EU entity previously spent 62.97 million USD to purchase ETH

According to monitoring by Lookonchain, a certain entity in the European Union is suspected of having over $106 million in cryptocurrency assets stolen. The related address previously spent $62.97 million on purchasing 27,553 ETH, with an average purchase price of $2,286.

On-chain investigator ZachXBT previously stated that the entity is suspected of losing assets from multiple centralized exchange accounts, with the involved funds withdrawn in the form of USDC and USDT. The fund flow chart disclosed by Lookonchain connects the aforementioned purchase address with addresses related to this incident.