The North Korean hacker collective known as the Lazarus Group reportedly holds over $46 million in digital assets, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). The data, compiled by researchers at 21.co, the parent company of 21Shares, the world's largest crypto exchange-traded product (ETP) issuer, suggests that 92.11% of the assets are in Bitcoin, worth approximately $42.5 million.
This information is based on an analysis of 295 crypto wallets identified by the US Federal Bureau of Investigation (FBI) and Office of Foreign Assets Control (OFAC) as belonging to the Lazarus Group. The Group has been linked to some of the most significant hacks in recent years, resulting in a total theft of around $960 million.
The major hacks attributed to the Lazarus Group include stealing about $620 million from Sky Mavis’ Ronin Bridge in March 2022, around $100 million from Harmony’s Horizon Bridge in June 2022, around $100 million from Atomic Wallet in June 2023, approximately $60 million from Alphapo and about $37 million from CoinsPaid in July 2023, and roughly $41 million from Stake.com earlier this week.
In addition to Bitcoin, the Lazarus Group is reported to have amassed 1,200 Ether valued at $1.91 million and 5,000 Binance Coin worth $1.06 million. No privacy coins were found among the group's holdings.
The Lazarus Group was also connected to a recent hack on cryptocurrency exchange CoinEx, which saw a loss of over $55 million this month. According to a report from blockchain analysis firm Chainalysis, hacking groups believed to be backed by North Korea are using cryptocurrency exchange platforms in Russia to launder their stolen funds.
However, 21.co researchers note that these figures are estimates based on publicly available information and may not be entirely accurate. The firm has developed a new dashboard displaying the cybercrime organization’s crypto holdings to provide a more transparent view of the group's activities.
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