- Lazarus Group earned $2.51M by flipping 40.78 WBTC bought in early 2023.
- The group split 1,847 ETH across wallets to mask its transaction trail.
- Two fresh wallets received nearly $2M in USDT, raising laundering flags.
North Korea’s Lazarus Group reportedly profited $2.51 million after selling 40.78 Wrapped Bitcoin (WBTC) purchased in 2023. The hacker-affiliated wallet executed the sale on April 3, 2025, receiving 1,857 Ethereum (ETH) and distributing the proceeds across multiple addresses.
Lazarus Group Wallet Offloads WBTC for Ethereum
According to a post by Crypto Jessica, a wallet linked to the Lazarus Group sold 40.778 WBTC valued at $3.514 million. The transaction, executed today, yielded a realized gain of $2.514 million after the group initially acquired the tokens in February 2023 for $999,900 USDT. The purchase occurred when WBTC was priced at $24,521, while today’s sale price averaged $86,170.
Besides the sale, the wallet transferred 1,847 ETH to three different addresses. One batch of 205 ETH was sent to a new wallet, while another 500 ETH transaction occurred shortly after. The largest transfer, 1,865 ETH, was routed to a separate address, reportedly linked to the Lazarus Group. Data from Arkham Intelligence indicates that the group has actively laundered funds by fragmenting transactions across multiple blockchain networks.
Funds Moved Across Blockchain Amid Surveillance
Blockchain analysis highlights a pattern of fund dispersal across several wallets. SpotOnChain data reveals that two newly activated wallets received substantial amounts, with 946,575 USDT moving to one address and 951,529 USDT sent to another. Investigators believe these wallets are controlled by the Lazarus Group, reinforcing the group’s ability to obfuscate transactions.
The group’s on-chain activities have intensified amid regulatory crackdowns. Security firms tracking Lazarus-linked wallets report increased cross-chain fund movements, likely an attempt to evade detection.
The recent Bybit hack, which netted Lazarus Group nearly $1.39 billion, has put authorities on high alert. Blockchain intelligence suggests that funds from the latest WBTC sale could be part of broader laundering efforts involving Ethereum and Tether (USDT) swaps.
Wallet monitoring tools continue to track Lazarus-affiliated addresses, which reportedly hold over $1.1 billion in crypto assets. Data suggests that the hacker group frequently rotates holdings between Bitcoin, Ethereum, and stablecoins to maintain liquidity while avoiding asset seizures.
