The Lazarus Group has surpassed countries like El Salvador and Bhutan in Bitcoin holdings, acquiring over $1.12 billion in Bitcoin following the Bybit hack. The group continues to execute targeted attacks, including attempts on decentralized finance platforms, while utilizing malicious tactics to exploit developers. Their activities have raised alarm in the cryptocurrency industry, highlighting the threat of state-sponsored cybercrime.
The Lazarus Group, a cybercrime organization associated with North Korea, has significantly increased its Bitcoin holdings, surpassing major nations such as El Salvador and Bhutan. Following the high-profile Bybit hack, valued at $1.5 billion, the group converted stolen Ether into 13,518 Bitcoin, amounting to approximately $1.12 billion. In addition, they hold 13,691 Ether and 5,022 Binance Coin, further emphasizing the extent of their accumulated assets.
After executing the February 2025 cyberattack on Bybit, which involved stealing over 400,000 Ether from the exchange’s secure wallet, the Lazarus Group has positioned itself as a formidable player in the cryptocurrency landscape. This breach highlights their capabilities and marks one of the largest cryptocurrency thefts in history.
The Lazarus Group is a prominent cyber operation backed by the North Korean state, operating under the Reconnaissance General Bureau. Their recent activities have raised concerns across the cryptocurrency industry, particularly following their plans to target decentralized finance platforms and recent attempts to exploit vulnerabilities in OKX’s decentralized exchange aggregator.
Furthermore, a recent investigation by Socket Research Team revealed the group’s usage of harmful npm packages to compromise developer systems and steal sensitive information. This method involved breaching the npm repository through typosquatting, indicating a sophisticated approach to cyberattacks aimed at the crypto sector.
The Lazarus Group’s expanded cryptocurrency holdings underscore the increasing implications of state-sponsored cybercrime on the global financial landscape. With their extensive expertise and recent activities highlighting vulnerabilities within the cryptocurrency industry, it is crucial for stakeholders to remain vigilant and proactive in protecting against such sophisticated threats. The situation emphasizes the broadening scope of cyberattacks targeting digital assets, particularly in decentralized finance platforms.
Original Source: news.shib.io
