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1h ago

Investigators Trace $21 Million From SBI Crypto to Tornado Cash as DPRK Links Suspected

Blockchain analysis indicates the funds passed through instant exchanges into a mixer whose legal status shifted this year following court rulings.

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SBI Crypto loses $21M as funds laundered through Tornado Cash by suspected North Korean hackers

Overview

  • Blockchain investigator ZachXBT reported roughly $21 million in outflows on Sept. 24, 2025 from addresses linked to SBI Crypto.
  • The assets moved included BTC, ETH, LTC, DOGE, and BCH, with transfers routed through five instant exchanges before reaching Tornado Cash.
  • ZachXBT said several indicators resemble past North Korean state-backed operations, though no law-enforcement attribution has been announced for this incident.
  • SBI Group has not publicly disclosed the event or issued an official response to inquiries about the reported outflows.
  • SBI Crypto operates as the mining-pool arm of Japan’s SBI Group, and mixing services such as Tornado Cash remain under heightened scrutiny after prior sanctions and recent legal shifts.