Earlier this year, the North Korean Lazarus group siphoned a huge amount of money from a popular crypto exchange, automatically putting the group on the hit list of some of the biggest names in the industry. However, that did not impede any growth.
Now, the notorious group has struck again. The North Korean hacker group has just flushed close to 40.78 wrapped Bitcoin valued close to $3.51 in exchange for 1,847 Ethereum. The data is shared by a popular crypto chain called the SpotOnChain.
Lazarus Group is smart enough not to leave any trails. As a result, the group allegedly redistributed nearly 2,507 ETH across separate addresses. However, the bigger portion is sent to another wallet connected to the hacker group.
The Long Con
The Lazarus Group acquired these 40.78 wrapped BTC in 2023 for around $999.900. At the time of this transaction, the token’s price was around $24,521. The group held the coin for so long that it finally decided to flush it, as the price of the token was hovering at $83,459. As a result, it secured a total profit of $2.51 million.
The Lazarus Group has been using complex money laundering techniques to transfer funds. This change apparently came after its attack on Bybit. Back in March, the group laundered close to 500,000 ETH, which was valued at around $1.39 billion.
This shows that the group is becoming bolder by the minute, and it is high time people noticed. According to Google’s threat intelligence, Lazarus has strengthened the resolve of North Korea’s cyber terrorists.
As a result, it is just a matter of time before another group similar to the Lazarus group breaks into the landscape and wreaks havoc.
