Lazarus Group Allegedly Nets $2.51M Profit from WBTC Trade after Two Years
In a move that has raised big concerns in the crypto community, a wallet linked to the infamous Lazarus Group—a hacking collective associated with North Korea—has reportedly sold off a big chunk of Wrapped Bitcoin (WBTC) it was holding. The wallet, dubbed 0x784, offloaded all of its 40.778 WBTC, worth about $3.51 million, and exchanged it for 1,857 ETH at an average price of about $86,170 per coin. That trade saw the wallet profit by about $2.51 million—a 251% return on investment. The attention of blockchain analysts and cybersecurity experts has been drawn to the sale of the wallet and the subsequent distribution of its funds. This is because the wallet was controlled by the Lazarus Group—an entity infamous for carrying out large-scale cyberattacks, especially against financial institutions. But unlike other cybercriminals, who traditionally move their plunder via clandestine payment […]