North Korean Hackers Bitcoin Holdings Surpass Those of El Salvador and Bhutan

The North Korean hacking group Lazarus currently holds 13,518 BTC, valued at approximately $1.13 billion as of this writing, which surpasses the total held by the governments of Bhutan and El Salvador. This information comes from Arkham Intelligence.

In comparison, Bhutan has a balance of 10,635 BTC. The kingdom is actively increasing its reserves through mining, leveraging its abundant hydroelectric resources.

Meanwhile, El Salvador possesses 6,118 BTC. The country recognized Bitcoin as legal tender and regularly acquires coins while also engaging in mining activities.

Analysts connect Lazarus’s substantial Bitcoin stash to the hack of the cryptocurrency exchange Bybit in late February, which resulted in a loss of $1.4 billion. Much of the stolen Ethereum was laundered by the hackers primarily through the DeFi protocol THORChain.

In addition to Bitcoin, the group possesses other cryptocurrencies worth around $30 million, including Ethereum, BNB, DAI, and BUSD.

The largest holders of digital gold remain the United States, with a total of 198,109 BTC. The country is preparing to establish a Bitcoin reserve using crypto assets seized during legal and civil proceedings.

According to Arkham, the United Kingdom holds 61,245 BTC.

Chainalysis reports that in 2024, North Korean hackers stole crypto assets valued at $1.34 billion. The UN estimates that around half of North Korea’s foreign currency income is generated through cyberattacks. These funds are reportedly used, among other things, to support programs for the creation of weapons of mass destruction and ballistic missile development.