Mysterious $106M Crypto Theft in Europe Converts to Monero
A significant crypto theft in Europe has been reported, with the stolen funds converted to Monero.
A significant crypto theft in Europe has been reported, with the stolen funds converted to Monero. Tether (USDT) is trading at ₹94.8 ($0.9987). This is an original Token Times brief based on reporting by Bitcoin Sistemi, with live market data added, as of Tue, 03 Nov 2026 09:45:01 UTC.
This incident highlights the growing use of privacy coins in illicit activities, posing challenges for tracking stolen funds and enforcing regulations.
- Stolen assets initially withdrawn as USDC and USDT.
- Total loss amounts to $106 million.
- Funds were converted to privacy-focused Monero (XMR).
- Incident coincides with broader market downturn.
A significant crypto theft has been reported in Europe, with the attacker allegedly withdrawing $106 million in stablecoins from exchange accounts. The stolen assets were initially in the form of USDT and 
USDC, according to 
Bitcoin Sistemi.
The circulating supplies of USDT and USDC, as verified by DeFiLlama, are $178.8 billion and $71.28 billion, respectively. The theft, while substantial, represents a small fraction of the total supply of these stablecoins.
The report states that the stolen funds were subsequently converted to 
Monero (XMR), a privacy-focused cryptocurrency known for its enhanced anonymity features. This conversion likely aimed to obscure the transaction trail and hinder tracking efforts.
The broader crypto market is currently experiencing a downturn, with the total market cap at $2.64 trillion and Bitcoin down 1.81% in the last 24 hours. The Fear & Greed Index stands at 26, indicating a state of fear among investors.
Monero (XMR) has seen a 3.15% increase in price over the past 24 hours, currently trading at $622.97. This rise may be influenced by the reported theft, as demand for privacy coins often spikes in response to incidents involving illicit activities.
Since this brief published about 3 hours ago, Tether (USDT) has moved from ₹94.80$0.9986 to ₹94.80$0.9987 — +0.01%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₹103.86 (about $0.9987), down 0.0% over 24 hours. The rupee itself trades about 9.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 3, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Mysterious $106M Crypto Theft in Europe Converts to Monero — questions & answers
What type of cryptocurrencies were stolen?
The stolen assets were in the form of USDT and USDC stablecoins.
How much was the total loss?
The total loss amounts to $106 million.
Why was Monero used?
Monero was used because its privacy features make it difficult to trace transactions.
How much is 1 Tether worth in rupee today?
About ₹103.86 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9987. The rupee price moves with both USDT's US-dollar price and the USDT/INR rate; use our Tether in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Bitcoin Sistemi. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.