North Korea's Lazarus Group has stunned the world with significant cryptocurrency thefts, becoming one of the most notorious hacking syndicates in the field.
Lazarus Group's Rise in Bitcoin Holdings
Recent data reveals that Lazarus Group currently holds 13,518 bitcoins, valued at approximately $1.16 billion. This places North Korea as the third-largest government entity in terms of Bitcoin holdings, surpassing both El Salvador and Bhutan.
How the Bybit Hack Boosted Lazarus’ Assets
On February 21, 2025, hackers infiltrated Bybit's security during a transfer of Ethereum and commenced the laundering process through decentralized platforms. The complete process took ten days, primarily utilizing the THORChain platform.
North Korea’s Role in Crypto Operations
North Korea utilizes cryptocurrency to evade sanctions and fund its military programs. Bitcoin has become a critical asset in this context due to its censorship resistance, liquidity, and the ability to be easily laundered through decentralized exchanges.
Experts continue monitoring Lazarus Group's actions, warning about potential consequences for the global economy.
