North Korean Hackers Profit from Wrapped Bitcoin Sale
The Lazarus Group,a north Korean hacking collective,has reportedly made a $2.51 million profit by selling Wrapped Bitcoin (WBTC). According too SpotOnChain, the group sold 40.78 WBTC for 1,847 Ethereum (ETH), valued at $3.51 million.
Two years ago, the hackers spent 999,900 USDT to buy the WBTC at an average price of $24,521. The recent sale price of $86,170 per WBTC marks a 251% increase. The group then distributed the ETH into three wallets,with the largest portion going to another Lazarus-linked address.
On-chain data analysis organizations have been monitoring the group’s activities, especially after the Bybit hack. In just 10 days, the group laundered nearly 500,000 ETH, worth $1.39 billion, using platforms like THORChain.
arkham Intelligence reports that a Lazarus-linked wallet holds around $1.1 billion in crypto, mostly in Bitcoin, Ethereum, and Tether. Google Threat Intelligence Group also detected an increase in North Korean IT workers’ efforts to infiltrate tech and crypto companies in Europe.
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