North Korean Lazarus Group Moves $1.2 Million Worth of Bitcoin

• Lazarus Group’s wallet had two transactions totaling 27.371 BTC as per Arkham.
• The coin mixer’s identity is not revealed in these transactions.

A holding wallet received almost $1.2 million worth of Bitcoin (BTC) from the infamous North Korean hacker unit Lazarus Group recently. Cybersecurity professionals and blockchain specialists are taking notice of this move since it is their biggest transaction in the previous 30 days.

Arkham, a blockchain research organization, revealed that the Lazarus Group’s wallet had two transactions totaling 27.371 BTC. Moreover, the move comes on the backdrop of a potential spot Bitcoin ETF approval in the U.S. Also, investors and traders expect high volatility around the decision by the SEC.

Utilizing Coin Mixer

Then 3.34 BTC were moved to another wallet that the group had used before. The coin mixer’s identity is not revealed in these transactions. To make it more difficult to determine who owns what cryptocurrency and where the money went, users use coin mixers to mask their transactions.

A lengthy history of sophisticated cyber thefts, especially involving crypto, is bolstered by this most recent action by the Lazarus Group. They are associated with a massive cryptocurrency theft from the Ronin bridge that is tied to the famous online game Axie Infinity, according to the U.S. Treasury Department.

Arkham estimates that the total value of the Lazarus Group’s wallets at present is at about $79 million. Also, about $73 million worth of Bitcoin and $3.4 million worth of Ether (ETH) are included in this.

And according to a new study from TRM Labs, one third of all cryptocurrency hacks and thefts in 2023 were perpetrated by hackers linked to North Korea, notably Lazarus Group. 

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