The North Korean hacker group from Lazarus Group sent Bitcoin to multiple unknown addresses, which was reduced to 13,441 BTC, according to data on the chain.
According to data from Arkham Intelligence, the North Korean hacker group’s Bitcoin (BTC) holdings are worth around $1.15 billion after mass transfers. At about 9:18am on March 20th, the wallet sent unknown wallet addresses below $112 million after 12.929 BTC.
Following the 12.929 BTC transfer, the wallet continued to send Bitcoin to four other wallet addresses. Two unknown wallets received 0.308 btc, one wallet received about 14.849 BTC, the other received 15.684 BTC, each. In total, the wallet has sent 44.07 BTC ($3.76 million) to five different wallet addresses over the past three hours.
The fact that the Lazarus Group distributes BTC holdings to multiple wallets may be that they are doing so for laundry purposes and making it even more difficult for the group to track their funds.
Today, Bybit CEO Ben Zhou argued that 88.87% of the funds stolen from the exchanges are still traceable through chain data. According to Zhou, about 86.29% of the stolen funds (valued to $1.23 billion) have been converted to 12,836 Bitcoins, spreading to as many as 9,117 wallets.
Zhou believes that hackers use Bitcoin mixers to scramble transactions history, making it difficult to track stolen funds further.
March 20, 2025, Transaction History of Lazarus Group Wallets for the last 3 hours, mainly composed of Bitcoin Transfers to Unknown Wallets | Source: Arkham Intelligence
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At the press conference, the wallet labeled “Lazarus Group” by Arkham Intelligence currently holds 13,658 ETH (ETH), worth around $27 million. The wallet holds $3.17 million for BNB (BNB), $706,400 for DAI (DAI) and $288,870 for BabyDoge (BabyDoge). The remaining holdings are stored in stub coins such as BUSD (BusD), USDT (USDT), and USDC (USDC). However, the largest share of that trobe is kept in Bitcoin.
The Lazarus Group is a North Korean state-sponsored hacking organization that has been active since at least 2009. Their earliest known surgery was called “Operation Troy,” targeting the South Korean government.
The group’s latest robbery was a bi-bit crypto exchange hack, which lost around $1.4 billion to the platform. This hack is considered to be one of the biggest crypto hacks ever recorded.
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