North Korea's Lazarus Group has accumulated over $1.15 billion worth of Bitcoin (BTC) following the recent hack of crypto exchange Bybit.
This makes North Korea one of the largest Bitcoin holders in the world, surpassing nations like El Salvador and Bhutan.
The hack resulted in the loss of $1.5 billion in Ethereum (ETH) and the funds were laundered through different platforms, with the majority converted to Bitcoin via THORchain.
The accumulation of Bitcoin by North Korea is seen as an illegal activity, unlike other countries that have established crypto asset reserves through legitimate means.