North Korean Lazarus Group Withdraws $1 Million in BTC Using Mixing Service

North Korean Lazarus Group Withdraws $1 Million in BTC Using Mixing Service

The Lazarus Group, one of the most infamous cryptocurrency hacking collectives, has made one of its largest cryptocurrency withdrawals in over a month. According to Arkham, an on-chain intelligence exchange system, the group withdrew a million dollars worth of bitcoin from one of its addresses, likely using a mixing service.

Lazarus Group Moves $1 Million in Bitcoin

Lazarus Group, an infamous North Korean cryptocurrency hacking collective, has its funds on the move. According to data from Arkham, an online blockchain intelligence platform, the group recently made one of its largest withdrawals in over a month, withdrawing $1 million worth of BTC to an address controlled by the entity. Then, the group transferred $150,000 in BTC to another address previously used.

Arkham also reported that these moves had likely involved using a mixer, a service that facilitates obfuscating the origins of the funds of transactions. Lazarus’ activities registered by Arhkam were limited to small movements for months before this transaction.

Before, Arkham had reported on trading movements coming from an address controlled by North Korean actors, likely from Lazarus, looking to grow their capital by investing in other cryptocurrencies.

The group has been suspected of participating in several high-profile hacks during 2023, including the attack on Poloniex’s hot wallets in November, in which the exchange lost $114 million and the hack suffered by Coinex in September, where $54 million in cryptocurrency was lost.

Also, the Federal Bureau of Investigation (FBI) linked the group to a theft of $41 million from Stake.com, an online crypto casino and sports betting platform. If all of these incidents were performed by Lazarus, the group netted over $200 million just in 2023.

The group still has over $80 million in cryptocurrency in several addresses, holding 1,629 BTC and 1,519 ETH. These two assets comprise more than 95% of the group’s portfolio.

What do you think about the recent movements of the Lazarus Group? Tell us in the comments section below.