SBI Crypto lost $21 million in a hack that ZachXBT linked to North Korea’s Lazarus Group, with stolen funds routed through instant exchanges and Tornado Cash.
Posted October 2, 2025 at 10:40 am EST.
SBI Crypto, a major Japanese Bitcoin mining pool and a subsidiary of the SBI Group, suffered a $21 million hack on Sept. 24, according to blockchain sleuth ZachXBT.
According to ZachXBT, patterns in the hack closely match previous cyberattacks linked to North Korea’s Lazarus Group, a notorious state-backed entity known for targeting crypto assets as a source of funding under global sanctions.
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The hacked funds were reportedly routed through five instant exchanges and then sent to crypto mixing service Tornado Cash, making them difficult to trace.
SBI Crypto maintains a significant role in both the Bitcoin and Bitcoin Cash networks, ranking as one of the largest global mining pools at the time of the breach.
The SBI Group had not officially confirmed or commented on the breach as of Wednesday evening.
