Lazarus Group Becomes Major Bitcoin Holder

Stolen Funds Converted to BTC
North Korea’s Lazarus Group has emerged as a significant Bitcoin holder after converting stolen crypto. The group, responsible for the $1.5 billion Bybit hack, now holds 13,518 BTC worth $1.13 billion, according to Arkham Intelligence.

One of the Largest Nation-State Holders
This makes North Korea the fifth-largest nation-state to hold Bitcoin, behind the U.S., China, the U.K., and Ukraine. The group’s holdings also surpass those of Bhutan and El Salvador, which hold 13,029 BTC and 6,089 BTC, respectively.

Ongoing Crypto Laundering Efforts
Reports indicate that Lazarus recently converted stolen ETH into BTC. The cybercrime group continues to move funds, raising concerns about crypto security and illicit financial activities.