Lazarus Group allegedly makes a profit of $2.51m from selling WBTC

The Lazarus group of North Korea would have made a profit of $ 2.51 million after having sold 40.78 wrapped bitcoin which was two years ago.

According to data De Spotonchain, a wallet that belonged to the North Korean pirate group has just sold 40,778 WBTC (WBTC), worth $ 3.51 million, for 1,847 Ethereum (Ethn).

After the purchase, the portfolio distributed 2.507 ETH from its total assets in three separate portfolios in prizes of 205 ETH, 500 ETH and finally 1,865 ETH in another address linked to the Lazare group.

In February 2023, the portfolio spent around 999,900 USDT (USDT) To buy 40.78 WBTC. At the time of purchase, the average WBTC price amounted to $ 24,521. According to data From crypto.News, wrapped bitcoin increased by more than 240% compared to two years ago. At the time of the press, WBTC is negotiated at $ 83,459.

When the portfolio made the purchase, WBTC was estimated at an average price of $ 86,170. Consequently, he was able to make a profit of $ 2.51 million in earnings made or equal to 251% after keeping 40.78 WBTC for about two years.

Lazare group chain activities

Portfolios belonged to the famous Lazare group of North Korea was under constant surveillance by chain data analysis organizations, in particular after hacking on the exchange of crypto Go through. The group’s portfolios have whitened funds accumulated from its cryptographic hacks by exchanging it with different cryptocurrencies and distributing them on different wallets.

On March 4, the group would have successful In bleaching of nearly 500,000 ETH ETH or equal to $ 1.39 billion in bybit piracy in just 10 days. The transversal decentralized liquidity platform Thorchain was used to treat at least $ 605 million in funds in a single day.

According to data On Arkham Intelligence, a portfolio linked to the Lazarus group contains approximately $ 1.1 billion in crypto holdings, with a majority of them stored in Bitcoin (BTC), Ethereum and Tether.

As indicated above by crypto.News, Google Threat Intelligence Group detected An increase in the efforts of North Korean IT workers to infiltrate technological and cryptographic companies in various countries across Europe. These IT workers often acted as initiates entry points for piracy groups sponsored by the State such as the Lazare group.