The North Korean Lazarus Group has established itself as one of the most notorious crypto hacking syndicates, amassing 13,518 Bitcoins, making North Korea the third-largest government Bitcoin holder.
Bybit's Role in Lazarus' Crypto Growth
Following a recent attack on the cryptocurrency exchange Bybit, Lazarus significantly increased its crypto holdings. They stole 499,000 Ethereum ($1.39 billion) and converted much of the funds into Bitcoin.
Law Enforcement and Exchange Responses
The FBI confirmed the Bybit hack was linked to Lazarus. In response, OKX temporarily suspended its DEX services to prevent further misuse.
Why North Korea is Stockpiling Bitcoin
North Korea uses Bitcoin to fund its weapons programs thanks to the cryptocurrency's decentralized nature and high liquidity.
Lazarus continues to exploit cryptocurrency for illegal financial operations, focusing on Bitcoin to evade sanctions and fund weapons programs.
