Last updated on April 30th, 2025 at 08:25 pm
North Korea’s notorious hacker collective, Lazarus Group, has reportedly made a $2.51 million profit after selling 40.78 Wrapped Bitcoin (WBTC) acquired two years ago.
Blockchain analytics platform SpotOnChain revealed that a wallet linked to Lazarus Group offloaded 40.778 WBTC—worth approximately $3.51 million—in exchange for 1,847 Ethereum (ETH). The sale took place after a significant price surge, with WBTC now trading at $83,459, marking an over 240% increase since the wallet’s initial purchase in February 2023, according to data from CoinMarketCap.
At the time of acquisition, the hacker group allegedly spent 999,900 USDT to buy the WBTC at an average price of $24,521 per token. Following the sale, the wallet redistributed 2,507 ETH into three separate addresses, with transactions of 205 ETH, 500 ETH, and 1,865 ETH directed to another wallet suspected to be associated with the group.
Lazarus Group’s wallets remain under strict surveillance by blockchain intelligence firms, particularly after their involvement in a recent exploit targeting crypto exchange Bybit. The group reportedly laundered nearly 500,000 ETH—equivalent to $1.39 billion—within ten days following the Bybit hack.
A significant portion of these illicit funds, approximately $605 million, was processed via the cross-chain decentralized liquidity platform THORChain in a single day. Analysts continue to monitor wallets tied to the group, with data from Arkham Intelligence indicating that one of Lazarus’ addresses currently holds around $1.1 billion in crypto assets. Most of these holdings are concentrated in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Beyond their crypto exploits, North Korean cybercriminals have been expanding their infiltration strategies. Google’s Threat Intelligence Group recently reported a surge in North Korean IT workers attempting to gain employment in European tech and crypto firms. These operatives act as insider threats, potentially facilitating Lazarus Group’s cyberattacks and financial crimes. Authorities and cybersecurity experts continue to warn the crypto industry of state-sponsored hacking threats, urging increased vigilance as Lazarus Group’s tactics evolve.
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