The post Japan’s SBI Groups Sufferes a Major Crypto Hack appeared on BitcoinEthereumNews.com.

ZachXBT and CyversAlerts identified a potential North Korean hack from SBI Crypto. $21 million was drained from a prominent Japanese TradFi firm’s mining pool. We have precious few details about the actual incident, and SBI Holdings apparently hasn’t acknowledged the losses. Still, if investigators suspect a DPRK connection, we should treat the allegation seriously. Sponsored Sponsored A Major Hack at SBI Holdings? SBI Holdings, one of Japan’s largest financial services groups, has been steadily increasing its crypto commitments: launching Bitcoin ETFs and tokenized stocks, furthering public adoption of BTC and stablecoins alike. However, SBI’s new investments may have exposed it to new dangers in the form of a dangerous North Korean hack. ZachXBT, the famous crypto sleuth, has developed a strong proficiency in fighting North Korean hacks and identified a potential SBI incident. Although SBI apparently has yet to acknowledge anything, he and CyversAlerts believe that up to $21 million was stolen: “Addresses linked to SBI Crypto saw ~$21 million in suspicious outflows on BTC, ETH, LTC, DOGE, and Bitcoin Cash. The stolen funds were transferred to five instant exchanges and deposited to Tornado Cash. Several indicators share similarities to other known DPRK attacks,” he claimed via Telegram. North Korean Attacks on the Rise SBI Crypto, the alleged hack target, is a mining pool and subsidiary of the main holdings company. Although $21 million represents a tiny fraction of the conglomerate’s total resources, a security breach like this is still quite unfortunate. Sponsored Sponsored Hopefully, it won’t discourage the firm’s continued crypto investment. North Korean hackers have been choosing more ambitious targets lately, and this SBI incident could fit the pattern of recent hacks. For example, DPRK-based teams have been running bridge exploits and raiding wallets connected to swap infrastructure; a mining pool could also have multiple points of vulnerability.…

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Filed under: News - @ October 1, 2025 6:33 pm