Summary
XBridge is a cross-chain bridge protocol built by SaitaChain (formerly Saitama Inu), designed to connect Ethereum Mainnet and BNB Chain. On April 24, 2024, the protocol suffered a $1.44 million exploit caused by a critical access-control vulnerability in its smart contracts, with stolen funds subsequently routed through Tornado Cash. The parent company, Saitama LLC, faces U.S. federal charges of wire fraud and market manipulation, with CEO Manpreet Kohli arrested in the UK in October 2024 and facing extradition proceedings.
Connected Entities
1 entitiesTimeline(8 events)
2021-08
Saitama LLC incorporated in Massachusetts; launches SAITAMA meme token with alleged undisclosed insider sell-offs and wash trading.
2023-01
SaitaChain rebrands from Saitama Inu ecosystem; XBridge launched as cross-chain bridge product connecting Ethereum Mainnet and BNB Chain.
2024-04-24
XBridge exploited on Ethereum and BNB Chain via access-control vulnerability; $1.44 million stolen. Attacker address: 0x0cfc28d16d07219249c6d6d6ae24e7132ee4caa7. Approximately $198,604 laundered through Tornado Cash.
2024-10-07
Saitama LLC CEO Manpreet Singh Kohli arrested in the United Kingdom ahead of federal charges.
2024-10-09
U.S. DOJ unseals charges against 18 individuals and entities including Saitama LLC for wire fraud, market manipulation, and wash trading. SEC files civil complaint. SaitaChain named by FBI as a project under investigation.
2024-10-10
Indian exchange SunCrypto suspends trading of STC (SaitaChain Coin) in response to U.S. federal charges.
2025-01
Manpreet Kohli appears in London court for extradition proceedings; hearing adjourned pending trial date.
2025-04
Kohli files motion to dismiss U.S. fraud and market manipulation charges, challenging SEC jurisdiction.
Decision Log
- hash: 7RWQiJiw8j113gEar9qfaBr4sF4h3CmCmFzKHj9KKdY9
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:33 AM
last updated: 5/28/2026, 4:23:34 AM
avoid.net — verified advice for a post-truth world