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North Korea Surpass El Salvador In Bitcoin Holdings

North Korea, aided by the notorious Lazarus Group, has quietly become one of the largest holders of Bitcoin (BTC) worldwide, even surpassing El Salvador.

Haider Jamal
March 17, 2025

Massive BTC Reserves

According to Arkham, North Korea currently holds approximately 13,518 BTC, valued at $1.16 billion. This amount exceeds the Bitcoin reserves held by El Salvador, a nation widely known for its Bitcoin-friendly stance.

Source: X (@WuBlockchain)

The Lazarus Group’s Bitcoin holdings have similarly grown significantly following its high-profile $1.4 billion hack of Bybit, which primarily targeted Ethereum (ETH). U.S. officials claim that the proceeds from such illicit activities are funneled into North Korea’s weapons and missile programs.

The Lazarus Group

Before February 22nd, the hacking syndicate controlled only 778 BTC. However, by March 4th, the number had surged to roughly 14,000 BTC, suggesting that the group may have converted stolen funds into Bitcoin as part of its laundering activities.

The Lazarus Group is considered one of the most sophisticated and effective crypto attackers globally. U.S. law enforcement agencies, including the FBI, have raised concerns about the group’s ability to infiltrate cryptocurrency networks and steal significant amounts of digital assets, including Bitcoin and Ethereum.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.