North Korea has quietly become the third-largest government holder of Bitcoin, with 13,562 BTC, largely due to the activities of the Lazarus Group, a state-sponsored hacking collective. The Lazarus Group is responsible for several cyberattacks, including the recent Bybit hack.
Lazarus converted the stolen $ETH to $BTC after the Bybit hack, and now holds 13,562 $BTC, worth approximately $1.12 billion, according to Arkham data.
If only there was a physical cost for exploiting code. I bet exchanges could put up a large wall of digital energy if they wanted to. At this rate Lazarus will be major player going forward.
