North Korean Hackers Convert Stolen ETH to Bitcoin, Amassing $1.12 Billion
The infamous North Korean hacker group Lazarus, responsible for the recent Bybit hack, has been converting stolen Ethereum (ETH) into Bitcoin (BTC).
According to data from Arkham, their total Bitcoin holdings have now reached 13,562 BTC, valued at approximately $1.12 billion.
At this pace, North Korea has effectively positioned itself among the top five nations globally in terms of Bitcoin reserves. This highlights the growing role of cybercrime in the country’s economy, as well as the increasing use of crypto assets for illicit financial activities.
Lazarus has a long history of high-profile cyberattacks, making them one of the most feared hacker groups in the crypto space.
