SBI Crypto Loses $21 Million in Suspected North Korean-Linked Exploit, Funds Sent to Tornado Cash

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A major Japanese financial firm has fallen victim to a $21 million crypto exploit that online investigator ZachXBT suspects is connected to North Korean hackers.

In a post on Wednesday, the prolific crypto sleuth revealed that on September 24, addresses linked to SBI Crypto—a subsidiary of the SBI Group—had a variety of cryptocurrencies stolen, including Bitcoin, Ethereum, and Litecoin. The stolen funds, worth approximately $21 million, were subsequently deposited into the crypto-mixing service Tornado Cash.

ZachXBT stated that the attack bears similarities to previous exploits tied to North Korean hacking groups. The investigation was conducted with assistance from the blockchain security firm Cyvers.

This is the latest in a series of high-profile investigations by ZachXBT, who is renowned for uncovering major crypto thefts. In June, they reported that the Iranian exchange Nobitex appeared to have been exploited for over $80 million.