The Lazarus Group’s Crypto Holdings Revealed
Recent on-chain data reveals that the Lazarus Group, a North Korean hacker collective, possesses tens of millions of dollars worth of Bitcoin (BTC) and other digital assets. Researchers at 21.co have developed a dashboard showcasing the crypto holdings of this cybercrime organization, known for conducting major hacks on behalf of the North Korean government.
The data is based on 295 crypto wallets that have been identified as belonging to the Lazarus Group by the US Federal Bureau of Investigation (FBI) and Office of Foreign Assets Control (OFAC). Over the past two years, the group has conducted large-scale hacks, resulting in a total haul of $960 million.
Major Hacks by the Lazarus Group
- March 29, 2022: ~$620 million stolen from Sky Mavis’ Ronin Bridge
- June 22, 2022: ~$100 million stolen from Harmony’s Horizon Bridge
- June 2023: ~$100 million stolen from Atomic Wallet
- July 22, 2023: ~$60 million stolen from Alphapo
- July 22, 2023: ~$37 million stolen from CoinsPaid
- September 4, 2023: ~$41 million stolen from Stake.com
The researchers clarify that the dashboard data represents a conservative estimate of the Lazarus Group’s crypto holdings based on publicly available information. According to this data, the group currently holds more than $46 million in digital assets.
The Top Holdings of the Lazarus Group
The Lazarus Group’s most significant holdings include 1,600 Bitcoin valued at $41.8 million, 1,200 Ethereum (ETH) valued at $1.91 million, and 5,000 Binance Coin (BNB) valued at $1.06 million.
Hot Take: North Korean Hackers Accumulate Millions in Crypto
On-chain data reveals that the Lazarus Group, a North Korean hacker collective, has amassed over $46 million in Bitcoin, Ethereum, and other cryptocurrencies. The group is notorious for conducting major hacks on behalf of the North Korean government and has been linked to several high-profile cybercrimes in recent years. With a conservative estimate based on publicly available information, the researchers have identified 295 crypto wallets belonging to the Lazarus Group. This revelation highlights the growing concern of nation-state actors leveraging cryptocurrencies for illicit activities and emphasizes the need for robust security measures within the crypto industry.
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