The Lazarus Group Holds $47 Million in Cryptocurrencies, Primarily Bitcoin
The Lazarus Group, a state-backed North Korean cybercrime entity, currently holds around $47 million in cryptocurrencies, with Bitcoin being the primary asset. This information is based on data collected by Dune Analytics, a subsidiary of 21.co. The group’s wallets contain approximately $42.5 million in BTC, $1.9 million in ETH, $1.1 million in BNB, and an additional $640,000 in stablecoins, with BUSD being the dominant one.
However, this amount is significantly lower than the $86 million it had shortly after hacking Stake.com. The Federal Bureau of Investigation (FBI) and the Office of Foreign Assets Control (OFAC) have identified 295 wallets associated with the Lazarus Group. These wallets are tracked on the Dune dashboard.
Avoiding Privacy-Focused Coins
Despite accumulating a substantial amount of cryptocurrency, the Lazarus Group tends to avoid using privacy-focused coins like Monero, Dash, or Zcash. These cryptocurrencies offer enhanced anonymity and make it difficult to trace transactions and users.
The digital wallets linked to the Lazarus Group are still active, with the latest transaction occurring as recently as September 20. It is possible that the group holds even more crypto than reported, as this estimate is based on publicly accessible data.
Lazarus Has Stolen $3 Million Worth of Crypto Per Day
In the last three months alone, the Lazarus Group has consistently carried out cyberattacks and managed to seize nearly $3 million worth of cryptocurrencies each day. Since June 7, this state-sponsored hacking organization has stolen a total of $293 million in various digital currencies. Notably, they stole $100 million from Atomic Wallet, initially reported as a $35 million loss but later adjusted upwards following an investigation.
The Lazarus Group was also responsible for the CoinEx cryptocurrency exchange hack that stole $55 million. This connection was established when the group unintentionally disclosed an address that matched those associated with previous security breaches.
Hot Take: The Lazarus Group’s Persistent Cryptocurrency Hacks
The Lazarus Group, a state-backed North Korean cybercrime entity, continues to be a major player in the world of cryptocurrency theft. With $47 million in cryptocurrencies, primarily Bitcoin, the group has been active in carrying out cyberattacks and stealing millions of dollars worth of digital assets on a daily basis. Despite being associated with high-profile hacks and accumulating substantial amounts of crypto, the Lazarus Group avoids using privacy-focused coins that offer enhanced anonymity. Their persistence and success in these hacking activities highlight the ongoing challenge of securing digital currencies and the need for robust cybersecurity measures.
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