SBI Crypto loses $21M as funds laundered through Tornado Cash by suspected North Korean hackers
Key Takeaways
- SBI Crypto, the Bitcoin mining arm of Japan’s SBI Group, lost $21 million in a hack.
- Suspected North Korean hackers are behind the breach and laundering of funds.
Share this article
SBI Crypto, a Japan-headquartered Bitcoin mining pool under SBI Group, lost $21 million to suspected North Korean hackers who laundered the stolen funds through Tornado Cash, according to blockchain investigator ZachXBT.
The outflows from SBI Crypto-linked wallets were routed through instant exchanges before being deposited into Tornado Cash, a decentralized mixing protocol that obscures transaction origins.
Recent blockchain analyses reveal a pattern of suspected North Korean-linked groups targeting cryptocurrency exchanges, with funds typically channeled through privacy-focused tools to hide their source.
International authorities have intensified scrutiny on mixing services following similar incidents.
Tornado Cash previously faced sanctions designed to curb its use in illicit finance operations. However, its sanctions were lifted earlier this year after a US court ruling.
Investigations into comparable exchange breaches have uncovered connections between various attacks, suggesting coordinated efforts by state-affiliated actors to fund operations through stolen crypto assets.
Share this article
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Updates Today: The Transparency Dilemma in Blockchain: How Open Systems Contribute to Technical Debt
- Blockchain developers face "technical debt" as transparent chains like Ethereum struggle to balance openness with scalability and regulatory compliance. - Ethereum's post-2022 upgrades and rising demand (90,995 ETH active usage) highlight tensions between transparency, energy efficiency, and protocol economics. - Global regulations (UK's 2026 crypto reporting framework, Turkmenistan's state-controlled crypto laws) force developers to add compliance layers, diluting decentralization. - Tether's operationa
Liquidity Protocol Advancements Driving On-Chain Derivatives Expansion: Hyperliquid (HYPE)'s Tactical Momentum in 2025
- Hyperliquid (HYPE) redefines DeFi derivatives in 2025 via cross-chain liquidity protocols and institutional partnerships, driving a 70–80% market share. - Its HyperCore blockchain introduces a first-of-its-kind on-chain order book (CLOB), enabling sub-second finality and 200,000 orders/second processing. - Strategic USDH stablecoin auctions and 92% fee buybacks create a flywheel effect, with $15B open interest and $29B daily volumes by August 2025. - Institutional adoption via Circle's CCTP V2 and Anchor
Resilient Entrepreneurs, Enduring Enterprises: Insights from Challenge-Forged Leaders for Shaping 2026 Investment Approaches
- The article highlights how founders overcoming adversity drive resilient businesses, offering key insights for 2026 investment strategies. - Case studies of Chung Ju-Yung (Hyundai), John Garrett (Community Impact), and modern innovators show operational discipline, long-term vision, and adaptability as critical success factors. - Resilient founders leverage frugality, market-specific strategies, and incremental growth to outperform peers in volatile markets according to business analysis. - Investors are
Trump's Record Market Gains Contrast with Crypto's 30% Decline and Widening Retirement Gap
- Trump's administration highlights record financial markets and falling inflation as key achievements, despite crypto markets dropping over 30% from October peaks. - Retirement savings inequality emerges as average 401(k) balances reach $144,400 while median figures lag, exacerbating generational wealth gaps. - Tariff revenues hit $31B in October, fueling Trump's $2,000 stimulus pledge, though economists warn $300B annual costs could strain fiscal sustainability. - Political challenges mount as Trump's $2
Trending news
MoreCrypto prices
More
