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.
