Lazarus Group, North Korean Hackers Amasses Over $40M in Bitcoin, Data Reveals

The infamous Lazarus Group, notorious for its cyber exploits, holds a staggering cryptocurrency treasury valued at over $47 million. This fund comprises a mix of digital wealth, prominently featuring Bitcoin, Ether, Binance Coin (BNB), and various stablecoins, notably Binance USD.

In collaboration with 21.co, the parent company of 21Shares, Dune Analytics meticulously collated data revealing the Lazarus Group’s formidable cryptocurrency holdings. This substantial sum includes $42.5 million in Bitcoin, $1.9 million in Ether, $1.1 million in Binance Coin, and an additional $640,000 within stablecoins, strongly emphasising Binance USD.

This financial snapshot represents a notable dip from the towering sum of $86 million held by the group as of September 6th, shortly after the scandalous Stake.com breach, with Lazarus Group’s involvement undeniably evident. The breach saw the crypto casino Stake.com lose about $40 million.

For those closely watching the digital trail, the Dune dashboard unveils a complex tapestry of 295 wallets, all bearing the indelible mark of ownership by the infamous hacking group. These wallets, scrutinized by the United States Federal Bureau of Investigation (FBI) and the Office of Foreign Assets Control (OFAC), serve as the financial nerve center of this covert operation.

4/ Currently, the three largest holdings of Lazarus Group are BTC (~57%), ETH (~24%), and BNB (~18%)

On Aug 22, the FBI warned that ~1,580 BTC were on the move and that "the DPRK may attempt to cash out."

As of today, they haven’t been able to cash out the $42Mworth of BTC. pic.twitter.com/g4uSb96Ek3

— 21.co (@21co__) September 18, 2023

Lazarus Group Hacks: The Criminal Portfolio

Lazarus Group’s activities are far-reaching, with numerous notable hacks. These include an attack on crypto exchange CoinEx, which suffered a loss of at least $55 million. The FBI has also attributed the group to hacks on Alphapo, CoinsPaid, and Atomic Wallet, collectively amassing over $200 million.

Notably, despite the Lazarus Group’s persistent criminal pursuits, analysis by Chainalysis indicates an 80% reduction in crypto thefts by North Korea-linked hackers compared to the previous year.

As of mid-September, the cumulative tally of crypto plundered by these shadowy groups stood at $340.4 million, a stark departure from the eye-popping record of $1.65 billion in digital assets siphoned off in the previous year.

In an environment wrought with tension and uncertainty, U.S. federal authorities have raised a dire warning, signalling “significant risk” for potential attacks targeting the U.S. healthcare and public health sector, all orchestrated by the ominous Lazarus Group.

NB: Any Information provided is NOT FINANCIAL ADVICE. Do Your Research before making any Financial Decisions.