Lazarus Group Reportedly Gains $2.51M from Selling WBTC

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The notorious Lazarus Group from North Korea has allegedly made a profit of $2.51 million by selling 40.78 Wrapped Bitcoin for 1,847 Ethereum after holding it for nearly two years.
The group has actively been laundering stolen crypto, moving about 500,000 ETH, which is worth $1.39 billion, from the Bybit hack within 10 days to THORChain to process transactions.

The notorious Lazarus Group from North Korea has allegedly earned $2.51 million by selling 40.78 Wrapped Bitcoin that they bought two years ago.

According to SpotOnChain data, a wallet linked to the North Korean hacker group Lazarus recently sold 40.778 Wrapped Bitcoin for 1,847 Ethereum, which is worth $3.51 million. After the transaction, 2.507 ETH was divided into three wallets, with transfers of 205 ETH, 500 ETH, and 1,865 ETH sent to another address connected to the group.

Their purchase could be traced back to February 2023; the group used about 999,900 USDT to purchase 40.78 WBTC, where one had an average price of $24,521. Since then, Wrapped Bitcoin has continued to rise and has gone up over 240%.

As of the time of writing, WBTCUSD is trading at $83,138, and when they sold, one was valued at an average of $86,170, allowing the wallet to secure a $2.51 million profit, which is a whopping 251% gain after holding for nearly two years.

Within the last 24 hours, wrapped Bitcoin (WBTCUSD) has seen a 24-hour trading volume of $379.28 million, with its value moving between $82,211 and $87,635 within this trading period. The token reached an all-time high of $108,368 on January 20, 2025, with its lowest point being $3,139.17 on April 2, 2019.

Lazarus Group’s Blockchain Transactions

Onchain crypto analysts had been watching the movement of all wallets linked to the Lazarus group, especially after the huge Bybit hack.

The group has been moving different stolen cryptocurrencies by converting them into different tokens and spreading them across multiple addresses. On March 4, it reportedly laundered almost 500,000 ETH, worth $1.39 billion, from the Bybit hack in just 10 days. THORChain, a decentralized platform, processed about $605 million of this laundered money in a single day.

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