Lazarus Group amasses $47M+ in BTC and others, data shows

Lazarus Group, a North Korean hacker group, has amassed a cryptocurrency stash worth over $47 million, including Bitcoin, Ether, BNB, and other stablecoins like Binance USD.

Recent information indicates that the Lazarus Group, a North Korean hacking group, has amassed a fortune of more than $47 million in cryptocurrency, much of which consists of Bitcoin.

Based on information from 21.co’s data analytics platform Dune, the Lazarus Group allegedly possesses approximately $47 million worth of cryptocurrencies. This includes $42.5 million worth of Bitcoin, $1.9 million worth of Ether, $1.1 million in BNB, and stablecoins worth $640,000 such as Binance USD.

Although Dune’s data indicates that the hacker group may have held $86 million in crypto assets in early September, it appears that the amount has since decreased. This decrease may be due to the group’s involvement in the Stake.com hack. While the Lazarus Group holds a significant amount of various cryptocurrencies, they do not hold any privacy coins like Monero, Dash, or Zcash because they are harder to trace.

Although the amount of cryptocurrency held by the hacker Lazarus Group has decreased, their wallets remain active, with the most recent transaction occurring on September 20th.

21.co emphasizes that their estimate of the Lazarus Group’s crypto holdings is likely an underestimate because it is based solely on publicly available information.

A CryptoTvplus report on September 13th revealed that the Lazarus Group was responsible for the CoinEx crypto exchange hack, which cost the exchange an estimated $55 million.

The FBI has accused the Lazarus Group of carrying out several major crypto hacks in 2023, including the Alphapo, CoinsPaid, and Atomic Wallet hacks, which are estimated to be more than $200 million.

It’s interesting to note that, while the Lazarus Group has been accused of several high-profile crypto hacks in 2023, overall crypto thefts linked to North Korean hackers have decreased significantly compared to 2022. Chainalysis’ data shows that the amount of crypto stolen in 2023, which is $340.4 million, is less than a fifth of the $1.65 billion stolen in 2022.

Meanwhile, the increasing focus of hacker Lazarus Group on crypto-related thefts indicates the shifting landscape of cybercrime, which is becoming more sophisticated and targeted.

As the crypto market grows, individuals and organizations must adopt strong security measures to protect their digital assets.

Furthermore, Cybercriminals like the Lazarus Group find cryptocurrencies particularly attractive due to their dual nature as both an asset and a technology. While cryptocurrencies offer benefits through their decentralized and pseudonymous features, addressing vulnerabilities is necessary.

Last week, the U.S. federal government issued a warning about a heightened risk of cyberattacks on American healthcare and public health sector entities by the notorious North Korean hacking group known as Lazarus.