SBI Crypto was hacked for $21 million, with the funds laundered through Tornado Cash.
The theft, initially discovered by independent blockchain analyst ZachXBT, involved suspicious outflows from multiple wallets associated with SBI. On-chain data showed that funds from these wallets were systematically stolen in a series of coordinated transactions.
The stolen wallets contained a variety of assets, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. Following the theft, these assets were rapidly transferred between five instant exchanges in an effort to fragment and obscure the flow of funds.
The funds were then transferred to Tornado Cash, a well-known cryptocurrency mixer. Notably, investigators have stated that this tactic mirrors past cyberattacks by North Korean groups.