North Korea’s notorious Lazarus Group has reportedly cashed in on a 40.78 Wrapped Bitcoin (WBTC) investment made two years ago, pocketing a $2.51 million profit.
According to SpotOnChain, a wallet linked to the hacking group sold 40.778 WBTC—worth $3.51 million—for 1,847 Ethereum (ETH). The transaction saw 2,507 ETH split into three wallets, with transfers of 205 ETH, 500 ETH, and 1,865 ETH to another Lazarus-controlled address.
In February 2023, the wallet spent nearly $999,900 USDT to buy WBTC at an average price of $24,521. With WBTC now trading above $83,000—up over 240% in two years—the group’s sales locked in a 251% gain.
Lazarus-linked wallets remain under heavy surveillance following their alleged involvement in the Bybit hack. The group has reportedly laundered nearly 500,000 ETH ($1.39 billion) from the attack, using platforms like THORChain to process $605 million in a single day.
Arkham Intelligence estimates that a Lazarus-affiliated wallet currently holds around $1.1 billion in crypto, primarily in Bitcoin, Ethereum, and Tether.
Meanwhile, Google’s Threat Intelligence Group has detected increased efforts by North Korean IT workers to infiltrate tech and crypto firms across Europe, raising concerns about state-sponsored cyber threats.
Image Credit: Pixabay
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