Lazarus Group Moves 40.778 WBTC, Converts to Ether

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As we all know Lazarus Group has continued to trouble crypto sectors by hacking the servers, smart contracts of companies and over the year it has profit in billions. Most recently Spotonchain said it has observed a movement in a wallet supposedly held by the group of hackers. 

The blockchain analysis firms said, the wallet has sold 40.778 WBTC to buy 1,847 Ethers and after this selling and buying the wallet has sent Ethereum in three different wallets.

Spotonchain said in an X post dated April 03, 2025, “ They spent 999.9K USDT to acquire the WBTC at $24,521 in Feb 2023 and sold it for 1,857 ETH at $86,170 just 12 hours ago.” 

It is said that in this continuous process of selling and then buying the wallet held by Lazarus Group of North Korea has made around $2.5 million in profit as it was holding WBTC for the last 2 years.

Hackers hold cryptos worth billions of dollars

There is no exact figure of crypto held by hackers, but looking at the lost amount in the big incident, the Ethereum holding of Lazarus Group is valued at more than $4 billion and around 70k BTC.

Estimated value of total holding of Lazarus Group is above $15 billion and major crypto holds are Bitcoin, Ethereum, USDT, USDC, XRP, BNB and SOL, Ethers is most held by this group.

Several times since the beginning of 2024 hackers wallets have sold or swapped crypto to book profit at the time when prices are enjoying higher highs.

According to CoinMarketCap the Wrapped Bitcoin has been trading at $83,402 with an intraday decline of 1.74% and its market cap is $10.76 billion which is down by 1.72%. 

The all time high of WBTC is $108,307 recorded on January 20, 2025, its prices are down by 4.48% in weekly time frame but it added 25.43% in 52 weeks time frame.

The crypto market lost more than $1.50 billion in Q1, 2025 

The prices of crypto have enjoyed new highs from the last quarter of 2024 till January 2025, but all the gains have been wiped out as the market has lost more than $1.50 billion, of which $1.4 billion is solely lost by Bybit.

A most recent report by Chainplay notes that around 83% of traders and holders of crypto have fallen victim to bad actors and centralized exchanges have lost the highest amount of funds.

Phishing scam, flash loan scams, Social Engineering and romance scam are one of the most committed types. Also, rug pull, pig butchering, ponzi scheme, fraudulent trading platform and giveaway scams. 

In some cases, incidents through sim swapping have also been reported, and authorities have also detained dozens of people over the charges of backing scams based on sim swapping.





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