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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.

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Btcnews 9mo ago

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.

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