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The Defiant 2025-03-19 22:30:43

North Korea Becomes Third-Largest Bitcoin Holder with Over $1 Billion and 13,580 BTC After $1.5 Billion Bybit Hack

North Korea Becomes Third-Largest Bitcoin Holder with Over $1 Billion and 13,580 BTC After $1.5 Billion Bybit Hack

North Korea has emerged as the world's third-largest holder of Bitcoin, surpassing both El Salvador and Bhutan, largely due to the activities of its hacking group, Lazarus. Recent reports indicate that North Korea's Bitcoin reserves exceed $1 billion, with estimates suggesting they may hold approximately 13,580 BTC. This accumulation is attributed to a record-breaking $1.5 billion hack of the cryptocurrency exchange Bybit, executed by the Lazarus Group. The hack has raised significant concerns regarding the security of cryptocurrency platforms, as analysts highlight vulnerabilities that allowed for such a large-scale theft. Following the hack, North Korean hackers reportedly laundered a substantial portion of the stolen assets, further complicating the landscape of crypto security. The United States and the United Kingdom remain the only countries with larger Bitcoin holdings than North Korea. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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