North Korea is becoming a Bitcoin holder. The country owes its new fortune to its hacker group Lazarus.
There’s a new addition to the ranking of countries with the most Bitcoin: North Korea. According to Bitcoin Treasuries, the country now holds 13,562 BTC, equivalent to approximately $1.13 billion.
This puts the dictatorship under Kim Jong-un in possession of more Bitcoin than El Salvador or Bhutan, and ranks fifth overall in the ranking.
North Korea owes its newly acquired wealth to its hacker collective Lazarus, according to data from the on-chain analysis platform Arkham.
Various cybersecurity experts blame the group for the attack on the crypto exchange Bybit. Approximately $1.4 billion was stolen in “the largest crypto hack of all time” – mostly in ETH.
The criminals subsequently laundered the stolen Ether via a DEX aggregator on the trading platform OKX. Due to regulatory pressure, the crypto exchange temporarily suspended its service.
Lazarus repeatedly targets crypto protocols and companies. International observers believe that the stolen funds also flow into North Korea’s nuclear weapons program.
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