1 October 2025
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SBI Crypto Hit by $21M Hack, Suspected North Korea Involvement
- SBI Crypto, part of Japan's SBI Group, experienced suspicious outflows of about $21 million on September 24, 2025.
- The stolen assets included funds in bitcoin, ether, litecoin, dogecoin, and bitcoin Cash.
- Funds were moved through five instant exchanges before being sent to Tornado Cash, a mixing service previously sanctioned by the U.S. Treasury.
- Blockchain investigator ZachXBT suggests similarities with tactics used in North Korean cyberattacks, hinting at potential involvement from DPRK-linked groups.
- SBI Group has not yet commented publicly on the incident.
- North Korean hacking groups like Lazarus Group have historically been involved in thefts amounting to billions in digital assets, often using mixers like Tornado Cash for laundering.