The Lazarus Group of North Korea is known as one of the most notorious crypto hacking syndicates globally. Their recent activities have positioned them among the top in Bitcoin holdings.
Lazarus Group’s Bitcoin Holdings Surge
Recent data from Arkham Intelligence reveals Lazarus Group holds 13,518 Bitcoins, valued at approximately $1.16 billion, making North Korea the third-largest government Bitcoin holder, surpassing El Salvador and Bhutan.
Impact of the Bybit Hack
The attack on the Bybit cryptocurrency exchange was a pivotal event that significantly increased the group's Bitcoin assets. On February 21, 2025, hackers exploited a vulnerability during Ethereum transfers, stealing 499,000 ETH and converting them into Bitcoin.
North Korea's Crypto Strategy
North Korea leverages cryptocurrencies to bypass international sanctions and fund its weapons programs. Bitcoin's privacy features and decentralized nature make it a valuable asset for the regime.
North Korea continues to utilize cryptocurrencies for international financial operations, raising global concerns and increasing scrutiny on crypto security.
