North Korea has just climbed among the largest Bitcoin holders worldwide, surpassing countries like Bhutan and Salvador. This spectacular ascent is mainly due to the cybercrime activities carried out by the Hackers Lazarus group, to whom we owe the recent hack of the cryptocurrency exchange platform bybit.
The biggest hack in the history of cryptocurrencies
The recent increase in Bitcoin assets of North Korea is largely Piracy linked by the cryptocurrency exchange platform bybitoccurred on February 21. This massive flight of $ 1.4 billion in cryptos, the largest hack ever recorded in the sector, allowed the North Korean hacker group Lazarus (affiliated to the regime) to strengthen its assets in Bitcoin after having converted a large part of the stolen funds.
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The Lazarus group, supported by the Pyongyang regime, is not at its first shine. He has already orchestrated several major cyber attacks:
- $ 308 million stolen to the Japanese company DMM Bitcoin in 2024;
- 615 million dollars stolen to the Ronin network in 2022;
- More than $ 1.34 billion cryptocurrencies stolen in 2024, representing 61 % of all stolen assets that year.
The rise of North Korea in the universe of cryptocurrencies arouses strong concerns internationally. Washington believes that about 50 % of the financing of ballistic programs and weapons of mass destruction From the North Korean regime comes from cyber attacks and recent flights.
In summary, cryptocurrencies constitute a strategic lever allowing Pyongyang to bypass international economic sanctions.
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The great powers react
Faced with these growing threats, Several countries take action to counter North Korean cybercrime. Without forgetting that the United States remains the greatest holders of Bitcoin with 198 109 BTC, especially from judicial confiscations.
The United Kingdom, which holds 61,245 BTC, actively works to strengthen its means of supervision of suspicious transactions. Finally, South Korea and the United States have implemented targeted sanctions against individuals and companies involved in laundering stolen funds.
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If North Korea today holds a record amount of Bitcoin, it is essential to distinguish official reserves from a country and the funds held by criminal groups. The North Korean case illustrates how cybercrime and cryptocurrencies have become major issues of modern geopolitics.
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Source : Arkham Intelligence
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Maxime discovered the world of finance and very young investment before launching from the age of 18 years. His passion for financial assets and new opportunities offers him a good vision of the current economy as well as emerging trends.
Maxime Montlet
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