Suspected North Korea-linked group SquidSquad steals $2.84 million; institutional funds moved through Tornado Cash

Odaily reports: According to ZachXBT monitoring, an institution was suspected to have been stolen of approximately $2.84 million on the BNB Smart Chain (BSC) on October 8 by the North Korea-linked group SquidSquad. The attacker deposited 1,111.2 ETH into Tornado Cash on October 20, then withdrew it to 3 addresses, and subsequently bridged the funds from Ethereum to Tron via USDT0, consolidating them into 2 addresses. All of the above consolidation addresses have fund connections to addresses previously attributed to North Korea. The funds then flowed through intermediary addresses to Chinese OTC desks within minutes. ZachXBT believes this move may have been intended to circumvent a potential Tether freeze.