$108.8M Crypto Heist Exploited Familiar Wallets to Move Stolen Funds

A suspected $108.8 million crypto theft has exposed potential weaknesses in exchange account security and wallet management after funds moved through previously used withdrawal addresses. An investigation by blockchain analytics firm Bitquery traced the transactions across Ethereum , identifying patterns that suggest the attackers may have accessed both exchange credentials and private keys. The incident involved accounts at Kraken, OKX, and Crypto.com , with investigators examining how the funds moved and which security mechanisms could have prevented the withdrawals. The first withdrawals occurred on November 1, beginning with OKX at 12:25 UTC, followed by Kraken 44 minutes later.