After three games with the Cavaliers, McCaw was waived on Sunday before his contract would have been guaranteed for the remainder of the season.
He reportedly reached a deal with the Eastern Conference-contending Toronto Raptors on Wednesday.
The NBA has continued its formal review into Cleveland signing McCaw to a two-year, $6 million deal and subsequently waiving him three days later before his contract would become guaranteed.
The Raptors aren't involved in the investigation.
The Warriors ultimately declined to match the offer sheet McCaw signed with Cleveland.
If the Cavaliers were found to have had a financial agreement with both McCaw and his agent while he was still a Warrior, they can be fined up to $3 million. After clearing the waiver wire, the third-year wing became an unrestricted free agent.
McCaw averaged 4 points, 1.4 rebounds and 1.4 assists in 57 games last season, his second in the National Basketball Association.
Suspicions immediately arose around Cleveland's motivation behind signing a player from the team that beat them in three of four NBA Finals, then releasing him nearly immediately.
McCaw was sidelined for nearly two months with a bone bruise in his lower back near the end of last season after a horrific fall during a game at Sacramento.