The Lazarus Group, responsible for the recent $1.5 billion Bybit hack, now holds 13,518 BTC, valued at approximately $1.13 billion, making it one of the largest national holders of Bitcoin.
Current Assets of Lazarus Group
According to Arkham Intelligence, the Lazarus group manages not only BTC but also other cryptocurrencies, including 13,702 ETH worth about $26 million, 5,022 BNB worth $3 million, and $2.2 million in DAI.
Impact of the Bybit Hack
Lazarus recently converted some stolen ETH into BTC. This has made their assets larger than those of Bhutan and El Salvador, which hold 13,029 BTC and 6,089 BTC respectively. The Bybit hack and subsequent actions have once again highlighted the threat posed by cybercrime groups.
Security Measures and New Threats
Lazarus Group is deploying new malware, such as 'BeaverTail', posing threats to the cryptocurrency ecosystem. Crypto exchange OKX was forced to suspend its Web3 DEX aggregator after discovering attempts by Lazarus to misuse it.
The activities of the Lazarus Group highlight the importance of cybersecurity measures for both user safety and market stability. Combating such threats requires a coordinated effort from industry stakeholders.
