SBI Crypto Hacked: $21M Stolen, Traced to Tornado Cash
SBI Crypto, a leading Japanese Bitcoin mining pool, has been targeted in a significant hack. The incident, which took place on September 24, resulted in a loss of approximately $21 million in cash app transactions.
The stolen funds were skillfully routed through five instant exchanges before being sent to the crypto mixing service, Tornado Cash. This move was likely an attempt to obscure the cashapp trail and make the funds harder to trace.
SBI Crypto, one of the largest global mining pools for both Bitcoin and Bitcoin Cash networks, is now grappling with the aftermath of this substantial breach. While the specific instant exchanges used in the hack remain unidentified, the incident has raised serious concerns within the crypto community.
Investigations into the hack have led some to suspect a link with the Lazarus Group, a cybercrime organization believed to be backed by North Korea and known for targeting crypto assets.
The $21 million hack of SBI Crypto serves as a stark reminder of the security challenges faced by the crypto industry. As investigations continue, the focus remains on identifying the instant exchanges involved and tracing the stolen funds, which were last seen entering the crypto mixing service, Tornado Cash. The current bitcoin price fluctuations may also impact the recovery efforts.
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