North Korea has emerged as the third-largest government Bitcoin holder after converting a substantial portion of stolen funds to BTC.
Bitcoin Holdings Across Countries
North Korea, driven by the Lazarus hacking group, now holds more Bitcoin than El Salvador and Bhutan. The US leads with 198,109 BTC, while the UK is second due to seizures.
North Korea's Cyber Attacks on Crypto Platforms
The Lazarus Group, allegedly under North Korean intelligence, continues cyber-attacks to fund state needs. The Bybit attack coincided with US talk of a strategic Bitcoin reserve.
Bybit Hack Recovery Efforts
Bybit announced the 'LazarusBounty' reward program valued at $140M to recover stolen funds, offering 10% of recovered assets as rewards, split into 5% for entities freezing assets and 5% for first reporters.
North Korea enhances its financial position under sanctions by using Bitcoin and cyber-attacks as funding mechanisms.
