- Lazarus Group surpasses Tesla in BTC holdings with 13,441 BTC, valued at $1.14 billion.
- A $1.4 billion Bybit hack boosted Lazarus Group’s BTC stash with 12,836 BTC from stolen ETH.
- The U.S. government now holds 198,109 BTC, underlining the increasing influence of cryptos.
The Lazarus Group, a hacking organization with ties to North Korea, has surpassed Tesla in BTC holdings. According to Arkham Intelligence report, Lazarus now holds 13,441 BTC, worth $1.14 billion. This amount is 16% more than Tesla’s stash of 11,509 BTC. The revelation highlights a significant shift in the balance of Bitcoin ownership, with a hacking group outpacing a major global corporation.
Source: Arkham Intelligence
The Bitcoin holdings of the Lazarus Group increased following its hack of the Bybit crypto exchange. In February, Lazarus stole $1.4 billion in ether (ETH) from the exchange’s cold wallet, wherein a portion of the stolen ETH was converted into Bitcoin. On Thursday, the CEO of Bybit, Ben Zhao stated in his X post that 88% of the stolen funds are traceable, while 7.59% vanished and 3.54% have frozen. Further, Zhao stated that 12,836 BTC has been distributed across 9,117 different wallets.
Meanwhile, Tesla’s Bitcoin acquisition dates back to four years ago, when the company made a significant investment in the digital asset. Since then, Tesla has adhered to a “HODL” strategy, holding onto its Bitcoin without selling. The company is currently the fourth-largest publicly traded entity in terms of BTC holdings. While Tesla’s Bitcoin stash is sizable, it now faces an unexpected competitor in the form of Lazarus, a group that has gained significant leverage over the past few years through cybercrime.
Related: Binance Introduces Vote to List Campaign for Token Voting
Trump’s Vision for Bitcoin
This news comes as the cryptocurrency world watches President Donald Trump’s support for digital currencies. On Thursday, Trump reiterated his vision of making the U.S. the “undisputed Bitcoin superpower.” His stance could accelerate Bitcoin adoption among U.S. companies and global nations. With the hacking group gaining momentum, Tesla and other American corporations now face an interesting dilemma.
Earlier this month, President Donald Trump signed a strategic Bitcoin reserve to reshape the crypto policy. Notably, the reserve would hold 200K BTC seized in criminal and civil cases. The order mandates that Bitcoin would be retained as a long-term store of wealth, prohibiting its sale. This directive aims to integrate digital assets into the U.S. reserves, setting a precedent for federal crypto policies.
