Bybit News: North Korea’s BTC Holdings Surge Following Lazarus Group Cyberattack

In a surprising twist in the world of cryptocurrency, North Korea has emerged as a significant holder of Bitcoin, thanks to a major cyberattack orchestrated by the Lazarus Group on the Bybit cryptocurrency exchange. Here’s a closer look at the developments.

North Korea Surpasses Bhutan and El Salvador in BTC Holdings

North Korea now holds 13,562 BTC, worth $1.14 billion, making it a significant holder of Bitcoin globally. This surge in crypto holdings comes after a major cyberattack orchestrated by the Lazarus Group, a state-backed hacking collective, on the Bybit cryptocurrency exchange. North Korea’s crypto vault has now surpassed Bhutan and El Salvador in Bitcoin holdings, but the United States remains the largest Bitcoin holder with 198,109 BTC (~$16.56 billion). The Lazarus Group’s cyberattacks are funding around 50% of North Korea’s weapons program through crypto thefts.

North Korea Among Top Bitcoin Holders With $1.15 Billion BTC Stash

North Korea has accumulated over $1 billion worth of Bitcoin (BTC) following the recent hack of the crypto exchange Bybit, which saw over $1.5 billion taken from the platform’s wallets. North Korea’s Lazarus Group became one of the largest Bitcoin holders in the world after the massive Bybit hack on February 21. Arkham data shows that the North Korea-linked hacking group has accumulated a significant amount of crypto through its exploits. According to the data, the Lazarus group now holds 13,518 Bitcoin, valued at $1.15 billion at current prices, with most of these holdings added last month.