Bybit News: North Korea Emerges as a Major Bitcoin Holder Through Bybit Exchange Heist

In a stunning revelation, it has come to light that North Korea has amassed a significant amount of Bitcoin through cyberattacks and theft, with a recent heist on the Bybit exchange being a major contributor.

North Korea Becomes One of the Largest Holders of Bitcoin in the World

North Korea has become one of the largest holders of Bitcoin in the world through cyberattacks and cryptocurrency theft. Their infamous hacker group, Lazarus, recently stole $1.4 billion in a lightning heist on the Bybit exchange, propelling Pyongyang into the ranks of major BTC holders. Two years ago, the White House estimated that North Korea’s activities were funded by such cyberattacks. Today, this number does not seem to be decreasing.

North Korean Hackers Steal Crypto to Fund Nuclear Program

State-supported North Korean hackers, known as the Lazarus Group, have stolen billions of dollars worth of crypto in less than ten years. Their operations have made North Korea the fifth-biggest holder of Bitcoin. According to a UN report, nearly half of the North Korean nuclear program’s costs are covered via stolen crypto. As of Mar. 17, 2025, Lazarus Group is holding around $1.14 billion in BTC. Recently, they converted stolen ETH funds into bitcoins. Following the Bybit hack and money laundering operation, North Korea is now the holder of 13,518 BTC, placing the country after the U.S., China, UK, and Ukraine.