North Korea ranks third in bitcoin holdings: Hackers are involved

North Korea has made it into the top three countries with the largest bitcoin holdings, after the United States and the United Kingdom. The largest and most successful cyber organization in North Korea, Lazarus, currently holds 13,580 Bitcoins worth £886 million following a record theft last month.

According to Arkham Intelligence, a company that uses artificial intelligence to identify cryptocurrency owners, Pyongyang ranks just behind the UK with £3.9 billion and the US with at least £12.7 billion. Both of these countries obtained their assets through the confiscation of funds belonging to criminals.

The Lazarus Group, also known as TraderTraitor, is one of the most successful criminal organizations in the world. Its income is "lifesaving" for North Korean leader Kim Jong-un and finances the North Korean military, including weapons production.

The FBI confirmed that the group stole over £1.2 billion in Ethereum cryptocurrency during a digital raid last month on the cryptocurrency exchange Bybit. In 2023, North Korea spent £1.1 billion on defense.

According to a recent report, last year North Korean hackers stole approximately £616 million in cryptocurrency. Cryptocurrency thefts by criminal groups operating on behalf of the North Korean government accounted for 35% of the £1.7 billion stolen globally in such heists in 2024.

Last year, a UN expert group concluded that North Korea finances up to 40% of its nuclear program and ballistic missile program through "illegal cyber means."

Meanwhile, as of the morning of March 19, the price of Bitcoin stands at over $83,500.

The historical high of Bitcoin was recorded on January 20, 2025, the day of the inauguration of US President Donald Trump. At that time, the cryptocurrency’s price rose to $109,241. By the end of February, Bitcoin dropped 25% from its historical high.