North Korea Becomes Third-Largest Bitcoin Holder Through Cyber Heists🚀
North Korea has emerged as the third-largest holder of Bitcoin globally, following the United States and the United Kingdom. This development is primarily attributed to the cyber-hacking activities of the Lazarus Group, a state-sponsored entity.
The group currently possesses approximately 13,580 Bitcoin, valued at £886 million. Notably, they executed a significant heist involving the cryptocurrency exchange Bybit, stealing over £1.2 billion in Ethereum.
These illicit activities are believed to fund North Korea's nucl-ear programs. In 2024, North Korea's cyber thefts accounted for 35% of the £1.7 billion stolen worldwide. Despite efforts by By-bit to recover the stolen assets, a substantial portion has been converted into conventional currencies.
A United Nations report indicates that up to 40% of North Korea's nucl-ear program is financed through such cyber means.
