North Korean Lazarus Group Bitcoin: Uncovering $40 Million

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Amid the digital realm’s tumultuous underbelly, the enigmatic Lazarus Group, notorious for its cyber exploits, conceals an astonishing cryptocurrency treasury valued at no less than $47 million. This cryptic cache encompasses an eclectic mix of digital wealth, spanning Bitcoin, Ether, Binance Coin (BNB), and an assortment of stablecoins, prominently featuring Binance USD.

As we delve into the cryptic labyrinth of data meticulously collated by Dune Analytics, courtesy of 21.co, the parent company of 21Shares, revelations surface regarding the Lazarus Group’s formidable cryptocurrency holdings. The staggering tally eclipses the $47 million mark, primarily housed in Bitcoin, amounting to a formidable $42.5 million. Ether contributes $1.9 million, BNB adds $1.1 million, and an additional $640,000 nestles within stablecoins, with a particular focus on Binance USD.

It’s worth noting that this fiscal snapshot represents a discernible dip from the towering sum of $86 million secured by the group as of September 6th, a mere few days subsequent to the scandalous Stake.com breach, with Lazarus Group’s fingerprints all over it.

For those inquisitive souls keeping a vigilant eye on the digital trail, the Dune dashboard unveils an intricate tapestry of 295 wallets, all bearing the indelible mark of ownership by the infamous hacking collective. These are wallets that have, in the scrutinizing gaze of the United States Federal Bureau of Investigation (FBI) and the Office of Foreign Assets Control (OFAC), emerged as the financial nerve center of this covert operation.

Meanwhile, the Lazarus Group’s crypto coffers continue to pulsate with vitality, with the latest transactional footprint etched in the annals of history on September 20th.

As analysts at 21.co assert, the quantum of riches held by the Lazarus Group potentially transcends the scope of our current knowledge. In their own words, “We should note that this is a lower-bound estimation of Lazarus Group’s crypto holdings based on publicly available information.”

The shadowy specter of Lazarus looms large over the crypto landscape, as they stand accused of engineering the audacious attack on the CoinEx crypto exchange, an incident that left a colossal void, estimated at no less than $55 million.

In a crescendo of criminality, the FBI has definitively pointed fingers at Lazarus, attributing their involvement in the Alphapo, CoinsPaid, and Atomic Wallet hacks, a nefarious trifecta that pilfered a staggering sum in excess of $200 million during the tumultuous year that is 2023.

Nevertheless, as per the discerning insights of Chainalysis, North Korea-linked hackers have seemingly scaled back their nefarious activities in the crypto realm, marking an astonishing 80% reduction in thefts from 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 year prior.

With tensions on a knife’s edge, U.S. federal authorities have sounded a dire warning, raising the flag of “significant risk” for potential attacks targeting the U.S. healthcare and public health sector, all orchestrated by the ominous Lazarus Group.

Source: https://bitcoinworld.co.in/nk-lazarus-bitcoin/