North Korean Lazarus Group is said to have made a profit of $2.51 million after selling 40.78 wrapped bitcoin two years ago.
According to data from SpotonChain, the wallet, which is believed to belong to the North Korean hacker group, sold 40.778 WBTC (WBTC) for $3.51 million for 1,847 Ethereum (ETH).
After purchase, the wallet distributed 2.507 ETH from the total holding into three separate wallets in batches of 205 ETH, 500 ETH and finally 1,865 ETH.
Today, the Lazarus Group (North Korean hackers) sold $40.78 WBTC ($3.51 million) for a profit of $2.51 million (+251%) after purchasing it two years ago.
They spent 999.9K$USDT to get $24,521 in February 2023 and sold for $1,857 ETH for $86,170 just 12 hours ago.
Hackers…pic.twitter.com/kyqmqnjnic
– April 3, 2025, spots from the chain (@spotonchain)
In February 2023, the wallet spent about 999,900 USDT (USDT) to buy 40.78 WBTC. At the time of purchase, the average WBTC price was $24,521. According to data from crypto.news, wrapped Bitcoin has risen by more than 240% compared to two years ago. At the time of pressing, WBTC is trading hands for $83,459.
When the wallet bought, the WBTC was valued at an average price of $86,170. So after holding 40.78 WBTC for about two years, we were able to make a profit of $2.51 million, equal to realized profits or 251%.
April 4, 2025, price chart depicting the movement of packaged Bitcoin prices over the past three months | Source: crypto.news
You might like it too: Lazarus Group sends $3.76 million worth of Bitcoin to five unknown addresses
On-Chain Activities in the Lazarus Group
Wallets belonging to North Korea’s infamous Lazarus group are constantly being monitored by on-chain data analytics organizations, particularly after the hacking of Crypto Exchange Bybit. Group wallets are laundry funds accumulated from crypto hacks by exchanging them for various cryptocurrencies and distributing them to various wallets.
On March 4th, the group reportedly managed to wash over 500,000 ETH of funds stolen from Bybit Hack in just 10 days. Cross-chain decentralized liquidity platform Thorchain was used to process at least $655 million in funds in one day alone.
According to data from Arkham Intelligence, wallets linked to the Lazarus Group hold about $1.1 billion in Crypto Holdings, most of which are stored in Bitcoin (BTC), Ethereum and Tether.
As previously reported by Crypto.News, Google Threat Intelligence Group has detected an increase in the efforts of North Korean IT workers to infiltrate technology and crypto companies from various European countries. These IT workers often function as insider entry points for state-sponsored hacking groups like the Lazarus Group.
read more: North Korean IT workers will strengthen penetration of technology and crypto companies across Europe
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