SBI Crypto, a subsidiary of SBI Group, suffered a $21 million hack involving Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. ZachXBT linked the incident to North Korean hackers using Tornado Cash for laundering.
SBI Crypto, a prominent Bitcoin mining subsidiary of Japan's SBI Group, suffered a $21 million hack in late September 2025. The hacking has been linked to North Korean state-backed entities.
SBI Crypto Targeted in Sophisticated Hack
SBI Crypto, a leading subsidiary of Japan's SBI Group, experienced a $21 million hack. Stolen assets included Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. No official statements were issued by SBI Crypto or SBI Holdings.
The hack was uncovered by blockchain investigator ZachXBT, linking it to North Korean hackers. Stolen funds rapidly flowed through instant exchanges and were laundered via Tornado Cash, aligning with hacking patterns used by North Korea.
“Funds from SBI Crypto were routed through instant exchanges and Tornado Cash, consistent with previous North Korean exploits.” — ZachXBT, Blockchain Investigator Source
Impact on the Cryptocurrency Sector
The incident's effects rippled through the crypto market, although no significant liquidity or price disruptions were noted. The theft's relatively small scale and quick fund dispersal mitigated direct economic impacts.
Such attacks emphasize continuing cybersecurity challenges in the cryptocurrency industry. They prompt renewed scrutiny on mixers and decentralized platforms due to regulatory pressures following previous sanctions on Tornado Cash.
Blockchain analysts suggest increased regulation and coordinated global cybersecurity efforts may arise. Emphasis on regulatory compliance and robust security measures is evident as North Korean schemes persist. These elements fuel further discussions about long-term industry stability.