North Korea ranks third globally in bitcoin holdings, possessing 13,580 Bitcoins valued at £886 million, primarily through cyber theft. The Lazarus Group is a key player in this, having stolen over £1.2 billion recently, bolstering Kim Jong-un’s regime and military funding. Reports indicate that North Korean cyber activities finance a substantial part of its nuclear and missile programs.
North Korea has ascended to rank third in the world for bitcoin holdings, only trailing the United States and the United Kingdom, as reported by The Times. The North Korean cyber group, Lazarus, is currently in possession of 13,580 Bitcoins, valued at approximately £886 million, stemming from a significant heist conducted last month.
Data from Arkham Intelligence indicates that North Korea’s total crypto assets approach £3.9 billion, which is substantial but still below the UK’s holdings of £3.9 billion and the US’s impressive asset tally of at least £12.7 billion. The funds amassed by the United States and the United Kingdom were predominantly acquired through confiscations from criminal activities.
The Lazarus Group, also known as TraderTraitor, is recognized as one of the most formidable criminal organizations globally. The financial resources they generate are critical for sustaining the regime of North Korean leader Kim Jong-un and play a vital role in financing the military, including arms manufacturing.
According to the FBI, the Lazarus Group managed to steal over £1.2 billion in Ethereum during a recent cyberattack on the Bybit cryptocurrency exchange. In 2023, North Korea allocated £1.1 billion specifically for defense initiatives, reflecting the regime’s prioritization of military investments.
Reports indicate that North Korean hackers pilfered around £616 million in cryptocurrency last year alone. It was highlighted that illicit cryptocurrency activities organized by these hackers accounted for 35% of the £1.7 billion stolen globally from such operations in 2024, underscoring a significant threat in the digital finance arena.
Furthermore, a recent investigation by a UN expert group suggested that as much as 40% of North Korea’s nuclear and ballistic missile programs are financed through “illegal cyber means.” As of March 19, Bitcoin’s market price has surged to over $83,500. However, after reaching its historic peak of $109,241 on January 20, 2025—the day of President Donald Trump’s inauguration—the cryptocurrency experienced a 25% decline by the end of February.
In conclusion, North Korea’s rise to the third position in global bitcoin holdings is largely facilitated by the Lazarus Group, a notorious hacking organization. Their illegal activities not only contribute significantly to the country’s military funding but also highlight the growing challenges that cybersecurity and digital asset regulation face worldwide. The alarming trend of cryptocurrency theft underscores the urgent need for enhanced protective measures against cybercrime.
Original Source: newsukraine.rbc.ua
