The subsidiary of SBI Group of Japan, SBI Crypto, has reportedly suffered a $21 million exploit, and possibly the malicious event was conducted by the hackers of North Korea.
It is reported that on September 24, 2025, addresses linked to SBI Crypto saw $21 million in suspicious outflow on Bitcoin, Ethereum, Litecoin, and Dogecoin, with a few others.
Also said that the claimed stolen funds were later transferred to five instant exchanges and deposited into Tornado Cash. Yet the attack is more likely to be conducted by the DPRK group, which has continued to trouble the crypto sector.
ZachXBT said in the Telegram post that, as of now, it does not appear they have publicly disclosed the incident.
The wallet marked by Arkham Intelligence as SBI VC Trade has a total $1,471,050,499 of crypto held, with 12.36k Bitcoin, 4.484k Ether, and 1.093k Solana among others.
SBI VC Trade hot wallet has a total balance of $264,893,872 with 2.254k Bitcoin.
SBI Holdings is significantly expanding its crypto footprint. The company has been actively developing its digital asset infrastructure through SBI VC Trade, one of Japan’s leading crypto exchanges.
It is diversifying into crypto custody services, blockchain-based payment systems, and digital asset mining operations. The firm has also invested in multiple crypto-related ventures and established partnerships with global blockchain companies.
Leveraging Japan’s progressive regulatory framework, SBI aims to bridge traditional finance with the digital asset ecosystem.
This strategic expansion positions SBI as a key player in Asia’s growing crypto market, offering institutional-grade services while maintaining compliance with Japan’s strict crypto regulations.
It is also exploring stablecoin development and cross-border payment solutions using blockchain technology. The company has launched initiatives in NFTs and DeFi, while collaborating with banks to integrate crypto services.