Increase in BTC HODL

     The Lazarus Group, led by Park Jin-hyok, which operates on behalf of the North Korean government, has successfully converted the hacked Ether (ETH) into Bitcoin (BTC) following the recent Bybit attack. Consequently, the North Korean government now holds a substantial 13,562 Bitcoins, valued at more than $1 billion.

Increase in Global Rank

     In terms of global rankings, North Korea has secured a position amongst the top five, with the United States (198,109 BTC) and the United Kingdom (61,245 BTC) occupying the top two spots. North Korea ranks third, followed by Bhutan (10,635 BTC) and El Salvador (6,117 BTC).

A Bad Landscape

     Notably, whilst the US and UK have solely seized Bitcoins from others, Bhutan and El Salvador have amassed their reserves through mining and purchasing. In contrast, North Korea, having solely obtained Bitcoins through illicit means, is nonetheless establishing itself as a significant player in the global Bitcoin landscape.

Originally published at Wubits