North Korean Hackers Amass More Bitcoin Than El Salvador and Bhutan Combined

The North Korean hacking group Lazarus currently holds 13,518 BTC, valued at approximately $1.13 billion at the time of writing, which surpasses the holdings in the wallets of both the Bhutanese and Salvadoran governments. This information comes from Arkham Intelligence.

In comparison, Bhutan’s balance stands at 10,635 BTC, as the Kingdom is actively increasing its reserves through mining, utilizing its abundant hydropower resources.

El Salvador has a total of 6,118 BTC. The country recognized Bitcoin as legal tender and consistently acquires coins while also engaging in mining activities.

Analysts link Lazarus’s substantial Bitcoin holdings to the hacking incident at the cryptocurrency exchange Bybit at the end of February, which resulted in the theft of $1.4 billion. Most of the stolen Ethereum was laundered by the hackers, primarily through the DeFi protocol THORChain.

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

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

According to Arkham, the UK holds 61,245 BTC.

As per Chainalysis, North Korean hackers stole crypto assets worth $1.34 billion in 2024. The UN estimates that about half of North Korea’s foreign currency earnings are derived from cyberattacks. These funds are reportedly used, among other things, to support programs for developing weapons of mass destruction and ballistic missiles.