North Korea's Lazarus Group has reinforced its reputation as one of the most notorious crypto-hacking entities. According to Arkham Intelligence, the group holds over 13,500 BTC, making North Korea the third-largest government holder of Bitcoin.
Lazarus Group’s Rise in Bitcoin Holdings
Recent data shows that North Korea's hacking group, Lazarus, has significantly increased its Bitcoin reserves, placing the country third among governmental Bitcoin holders, surpassing El Salvador and Bhutan.
How the Bybit Hack Fueled Bitcoin Holdings
Lazarus Group executed a major hack on the cryptocurrency exchange Bybit, converting stolen Ethereum into Bitcoin, thus significantly boosting its digital asset reserves.
North Korea's Role in Crypto Hacking
The FBI has linked the Bybit hack to the TraderTraitor group, part of Lazarus. The hackers converted the stolen funds into cryptocurrency and distributed them across thousands of addresses.
Lazarus Group's actions point to serious security threats in the digital asset world. The use of cryptocurrencies to fund state programs raises questions about the need for stricter security measures and transaction controls.
