North Korean Hackers Profit $2.5M from WBTC Sale, Signaling Future Cyber Moves

Lazarus Group, North Korea’s state-backed hacking organization, has generated over $2.5 million in profit by selling 40.78 WBTC for approximately 1,857 ETH, valued at around $3.51 million. The group had previously acquired the WBTC in February 2023 with a $1 million USDT investment, achieving a return of more than 250% when selling each WBTC for about $86,170. Following the sale, the ETH proceeds were distributed across three wallets—two newly created and one historically linked to the group—raising market speculation that these funds may be setting the stage for further illicit operations. The news comes on the heels of Lazarus Group’s notorious history, which includes the high-profile $1.5 billion Bybit hack, and a decade-long record of stealing over $6 billion from the digital asset space. Their actions, reportedly funded by the North Korean regime to support nuclear weapons development and help bypass global sanctions, underscore enduring security vulnerabilities in the financial and crypto sectors.