North Korean Hackers Withdraw Over $1 Million in Bitcoin
A report from Arkham Intelligence reveals that the Lazarus Group, a North Korean hacking group, has conducted its largest cryptocurrency transactions in over a month. The group withdrew more than $1 million in Bitcoin through a crypto mixer. Speculation arises that these transactions may be related to the potential approval of a Bitcoin exchange-traded fund (ETF).
Lazarus Group’s Transactions Surpass $1 Million
Arkham Intelligence shared a screenshot on X (formerly Twitter) displaying six transactions totaling around $1.38 million. However, the majority of this amount, approximately 37 BTC, was executed through three transactions this morning. This significant movement of funds triggered speculation among X users.
Lazarus Group Suspected in Recent Attacks
Recent reports suggest that the Lazarus Group was responsible for the attack on CoinEx exchange, resulting in the loss of approximately $55 million. Additionally, suspicions point to the group’s involvement in the hack of crypto exchange Poloniex, which resulted in a theft of around $117 million. Poloniex’s co-founder, Deddy Lavid, suspects that the Lazarus Group was behind these attacks due to their history of similar advanced access control attacks and large-scale thefts.
Hot Take: Potential ETF Approval Could Impact Bitcoin Price
The withdrawal of more than $1 million by the Lazarus Group and speculation about its connection to a potential Bitcoin ETF approval raises questions about how such an approval could impact Bitcoin’s price. If the United States Securities and Exchange Commission (SEC) approves an ETF, it could bring increased optimism to the crypto community and potentially drive up Bitcoin’s value.
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