Lazarus Group, North Korean Hackers, Hold $47 Million in Cryptocurrency – Recent data has unveiled that the North Korean hacking group, Lazarus Group, possesses an astounding $47 million in various cryptocurrencies. Most of this digital wealth is held in Bitcoin, with the rest distributed among Ether, BNB, and a mix of stablecoins, especially Binance USD.
This information, sourced from Dune Analytics via 21.co, the parent firm of 21Shares, revealed that the hacking collective’s crypto wallets are primarily associated with Bitcoin, valued at approximately $42.5 million. The Ether holdings amount to nearly $1.9 million, BNB holdings close to $1.1 million, and stablecoins, mainly Binance USD, around $640,000.
Interestingly, the current holdings show a decline from earlier this month. Records from September 6 indicate that the Lazarus Group held cryptocurrencies worth $86 million. This drop in holdings follows closely after the Stake.com hack incident, in which Lazarus was reportedly involved.
The data, which tracks 295 wallets identified by the U.S. Federal Bureau of Investigation (FBI) and Office of Foreign Assets Control (OFAC), noted that none of these wallets contained any privacy coins like Monero, Dash, or Zcash, which are traditionally harder to trace. Additionally, the hacking group’s crypto wallets remain significantly active, with recent transactions noted as of September 20.
However, 21.co has indicated that the estimated value of the group’s holdings could be higher than reported, emphasizing that the current figures are based on publicly accessible information.
In recent months, Lazarus Group has been linked to several high-profile crypto heists. For instance, they were implicated in the attack on the CoinEx crypto exchange, leading to losses of over $55 million. The FBI has also attributed the hacks of Alphapo, CoinsPaid, and Atomic Wallet to Lazarus, with cumulative thefts surpassing $200 million in 2023 alone.
Despite these significant thefts, Chainalysis reports a decline in crypto thefts by hackers linked to North Korea. The thefts have plummeted by 80% from 2022. By mid-September 2023, North Korean-associated groups had pilfered crypto assets amounting to $340.4 million, a sharp decrease from the staggering $1.65 billion stolen in 2022.
Amid these revelations, U.S. federal authorities have recently alerted the public to the “significant risk” of potential cyberattacks on U.S. healthcare and public health sectors by the Lazarus Group.
