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A holding wallet receives nearly $1.2 million in Bitcoin (BTC) from the North Korean hacker group

A holding wallet recently received nearly $1.2 million in Bitcoin (BTC) from the infamous North Korean hacker unit Source: Pexels

In an interesting development, a holding wallet recently received nearly $1.2 million in Bitcoin (BTC) from the infamous North Korean hacker unit, Lazarus Group.

This transaction has piqued the interest of cybersecurity professionals and blockchain experts, as it is one of the group’s largest transactions in the last 30 days.

The Lazarus Group’s wallet was involved in two transactions totaling 27.371 BTC, according to Arkham, a blockchain research organization.

This move coincides with the potential approval of a spot Bitcoin ETF in the United States, and investors anticipate increased volatility in the aftermath of the SEC’s decision.

Around 3.34 BTC were transferred to another wallet previously used by the Lazarus Group following the initial transactions. The identity of the coin mixer involved in these transactions has not been revealed.

Users use coin mixers to obscure their transactions, adding another layer of complexity to tracing the ownership and destination of cryptocurrency funds.

The Lazarus Group’s recent action adds to its history of sophisticated cyber thefts, particularly in the realm of crypto.

According to the US Treasury Department, the group has been linked to a significant cryptocurrency theft from the Ronin bridge associated with the popular online game Axie Infinity.

Arkham estimates the current total value of the Lazarus Group’s wallets to be around $79 million, which includes approximately $73 million in Bitcoin and $3.4 million in Ether (ETH).

TRM Labs’ recent study highlights the significant role played by North Korean hackers, particularly the Lazarus Group, in cryptocurrency hacks and thefts.

According to the study, North Korean hackers were responsible for one-third of all cryptocurrency hacks and thefts in 2023.

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Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.