North Korea’s Lazarus Group Moved More Than $1 Million in BTC After Period of Dormancy

The infamous North Korean state-sponsored Lazarus Group suddenly transferred over $1 million worth of Bitcoin from a crypto mixer to an inactive wallet after a few weeks of radio silence.

The perpetrators moved 27,371 BTC, worth approximately $1.2 million, in two transactions, said blockchain analysis company Arkham Intelligence, which spotted the transaction. The assets were likely pulled from a crypto mixer service.

The hacking group then split 3.343 BTC, approximately $150,000, from the siphoned amount and redirected it to an inactive wallet they had used previously.

In the same post highlighting the transfer, Arkham Intelligence left a URL pointing to Lazarus Group’s portfolio, which is currently worth more than $80 million.

Lazarus Group Preparing for New Activity

Frequently moving funds is common for threat actors, especially those specializing in crypto heists. However, Lazarus Group’s recent transfer may indicate the crew is stockpiling for future activity.

Seasoned cybercriminals like the notorious North Korean digital syndicate members rarely spend stolen assets for personal uses. Instead, they “reinvest” ill-gotten funds in better equipment, intel, credentials, and other means of expanding their cyber faction.

Notoriously Prolific

Lazarus Group is accused of numerous high-profile attacks and other crypto-related crimes, including the massive Ronin bridge hack in March 2023, and using sanctioned mixers to launder stolen assets. By October, records show that the group had amassed $900 million in a 12-month span.

Last week, crypto platform Orbit Chain was hit by a devastating cyberattack, leaving the company short of approximately $86 million. Although the attackers' identity hasn’t been explicitly confirmed, all signs seem to point to Lazarus Group due to the attack’s “methodical” nature and pattern similarities to those employed by the North Korean hackers.

Keeping Your Crypto Assets Safe

Although the Lazarus Collective focuses on high-profile targets, individual users and those holding smaller amounts in their digital wallets are not safe. The incidence of crypto scams is steadily increasing, and dodging them involves knowing of their existence, understanding how they operate, and using dedicated software.

Bitdefender Ultimate Security can protect you from digital threats, including scam emails, phishing pages, viruses, Trojans, worms, zero-day exploits, ransomware, spyware, and rootkits.