SBI Crypto $21M Hack - September 24, 2025
The Incident
Blockchain investigators confirmed that SBI Crypto lost around $21 million in digital assets following a breach on September 24, 2025. The stolen funds included bitcoin, ether, litecoin, dogecoin and bitcoin cash.
Detection and Investigation
The theft was first flagged by independent blockchain analyst ZachXBT, who identified suspicious outflows from multiple wallets connected to SBI. The loot was then funneled to five instant exchanges before being deposited into Tornado Cash, a crypto mixing service that previously had been sanctioned by the U.S. Treasury.
Attribution
ZachXBT drew several parallels between the exploit and previous hacks and thefts linked to the dreaded North Korean Lazarus Group.
Company Response
SBI Crypto has yet to issue a public statement.
Sources