The Lazarus Group, a notorious North Korean hacking organization, has recently been reported to transfer over $3.76 million worth of Bitcoin to five unknown wallet addresses. This event raised eyebrows across the cryptocurrency community, as the group is notorious for its efforts in cybercrime and cryptocurrency theft.
As of March 20, 2025, on-chain data indicates that Lazarus Group has reduced its Bitcoin holdings to a staggering 13,441 BTC, worth approximately $1.15 billion. This significant transfer activity occurred around 9:18 AM UTC, when the group sent 12.929 BTC (about $1.12 million) to an unidentified wallet. Following this transaction, the wallet conducted additional transfers, sending Bitcoin to four more addresses, including transactions of 0.308 BTC, 14.849 BTC, and 15.684 BTC, thus totaling over 44.07 BTC in a matter of hours.
The strategic distribution of Bitcoin across multiple wallets has led many experts to speculate that this could be a move to launder the funds, making it increasingly difficult for authorities to trace the illicit digital currency. This trend of using various wallets for money laundering purposes exemplifies the ongoing challenges in tracking cybercriminals.
Adding another layer to this complex situation, Ben Zhou, the CEO of a major crypto exchange, indicated that despite the chaos caused by these hacks, about 88.87% of the stolen funds remain traceable. According to Zhou, approximately 86.29% of the stolen assets, valued at around $1.23 billion, have been transformed into Bitcoin and spread across more than 9,117 wallets. The hackers are believed to be utilizing Bitcoin mixers to obscure their transaction history, further complicating tracking efforts.
As of this writing, the Lazarus Group’s wallet holds not only Bitcoin but also substantial amounts of other cryptocurrencies, including 13,658 ETH (~$27 million), $3.17 million in BNB, and various stablecoins. The group’s rapid accumulation of wealth through cyberattacks emphasizes the urgency for enhanced security measures within the cryptocurrency ecosystem, given the increasing sophistication of these criminal tactics. As cyber threats to the crypto space continue to evolve, both users and platforms must remain vigilant to secure their assets.
