The Lazarus Group, linked to North Korea, now holds more bitcoin than Tesla. Currently, they possess 13,441 BTC worth about $1.14 billion, surpassing Tesla’s 11,509 BTC holdings by 16%. Recently, the hacking group stole $1.4 billion in ether from crypto exchange Bybit and has converted some of that into bitcoin. Tesla, which bought its bitcoin four years ago, is the fourth-largest public company in terms of BTC assets. This stark contrast arises amid discussions about accelerating bitcoin adoption, especially after Donald Trump’s commitment to making the U.S. a leading force in cryptocurrency. The U.S. government also holds a significant bitcoin reserve of over $16 billion from seizures.
The Lazarus Group Outshines Tesla in Bitcoin Holdings
The infamous Lazarus Group, a North Korean hacking organization, now holds a larger stash of bitcoin than the well-known electric vehicle manufacturer, Tesla. As per data from Arkham Intelligence, the Lazarus Group controls 13,441 BTC, valued at approximately $1.14 billion. This amount surpasses Tesla’s holdings of 11,509 BTC by 16%.
In a striking turn of events, the Lazarus Group recently targeted crypto exchange Bybit, siphoning off a staggering $1.4 billion in ether (ETH). Of this, about 12,836 BTC has been moved to over 9,000 unique wallets. Bybit’s CEO, Ben Zhou, confirmed this alarming news, highlighting the group’s sophisticated operations in the cryptocurrency space.
Tesla’s investment in bitcoin, initiated four years ago, has positioned the company as the fourth-largest publicly listed holder of BTC. Since acquiring their stash, Tesla has maintained a steady HODL strategy. This contrasting scenario of Tesla and the Lazarus Group has stirred discussions about cryptocurrency adoption, especially following Donald Trump’s positive statements on Bitcoin, which call for U.S. corporations to embrace cryptocurrencies more aggressively.
In a recent address, Trump reiterated his vision for making the U.S. the “undisputed Bitcoin superpower,” leading to speculation on how Tesla and other U.S. firms will react to being outshadowed by a hacker group. It’s worth noting that the U.S. government currently holds an impressive 198,109 BTC due to coins seized during enforcement actions, which represents a significant strategic asset.
As the battle for Bitcoin supremacy unfolds between corporate giants and hacking groups, it raises questions about security and the future of cryptocurrency in the global Market.
Tags: Lazarus Group, Tesla, Bitcoin, cryptocurrency, Arkham Intelligence, Bybit.
What is the Lazarus Group?
The Lazarus Group is a hacking group believed to be linked to North Korea. They are known for carrying out cyberattacks and stealing money from businesses and individuals around the world.
Why does the Lazarus Group hold so much Bitcoin?
The Lazarus Group has stolen large amounts of Bitcoin through various cyberattacks. They use this cryptocurrency because it’s hard to trace and provides some anonymity.
How much Bitcoin does the Lazarus Group have compared to Tesla?
Reports suggest that the Lazarus Group holds more Bitcoin than Tesla, the company led by Elon Musk. This highlights how much the group has managed to accumulate through illegal means.
What does this mean for Bitcoin’s security?
The fact that a group like Lazarus can hold such a large amount of Bitcoin raises concerns about security and the risks involved with using cryptocurrencies. It reminds us that the space can be used for both good and bad purposes.
Can anything be done to prevent groups like Lazarus from stealing Bitcoin?
Yes, there are steps that can be taken. Improved cybersecurity measures, better tracking of suspicious transactions, and international cooperation can help reduce the threat posed by groups like Lazarus. It’s important for both individuals and businesses to stay vigilant.