ZachXBT: An institution suspected of losing $2.84 million to North Korea-linked group SquidSquad

October 21 - On-chain detective ZachXBT reported that an institution is suspected of having approximately $2.84 million stolen by the North Korea-linked group SquidSquad on the BNB Smart Chain (BSC) on October 8.

According to his tracking, on October 20 the attacker deposited 1,111.2 ETH into Tornado Cash, then withdrew it to three addresses, before bridging the funds from Ethereum to Tron via USDT0 and consolidating them into two addresses. These consolidation addresses are all financially linked to addresses previously attributed to North Korea. The funds then flowed through intermediary addresses to Chinese over-the-counter (OTC) traders within minutes, which ZachXBT believes may have been done to avoid a potential freeze of the funds by Tether.