CZ reveals Lazarus Group billion-dollar Bitcoin holdings
Binance CEO CZ joked about the various ways to build a strategic crypto reserve
The former CEO of Binance Changpeng Zhao (CZ) has highlighted that the notorious Lazarus Group now holds more than $1.16 billion in Bitcoin.
This finding places the North Korean-backed hacker collective as the third largest state Bitcoin holder, trailing only the US and UK governments. CZ called it North Korea's “crypto-reserve.”
Key takeaways
- Lazarus Group’s holdings: North Korea-backed hackers hold approximately 13,518 BTC worth $1.16 billion.
- Global ranking: This makes Lazarus Group the third largest Bitcoin holder among state-related entities, after the US (198,109 BTC) and the UK (61,245 BTC).
Market context
In a recent tweet that garnered significant attention, Binance CEO CZ joked about the various ways to build a strategic crypto reserve, referencing the massive Bitcoin holdings of the Lazarus Group.
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According to data from Arkham Intelligence, these holdings, valued at $1.16 billion, highlight the growing influence of state-backed crypto activities.
Lazarus Group crypto holdings. Source: Arkham.
In contrast, the US government currently holds 198,109 BTC, valued at roughly $16.52 billion, while the UK government holds about 61,245 BTC, worth over $4 billion. This comparison underscores the sheer scale of the Lazarus Group’s stash despite its illicit origins.
Industry implications and forward-looking statements
The disclosure comes amid broader regulatory scrutiny and market volatility. CZ’s remarks were accompanied by a stern warning to developers: "Launch a coin only if you have scale. Focus on utility, not tokens," signaling his concern over the proliferation of new tokens amid market saturation.
While regulators and market participants evaluate the data on hacker stocks, industry observers are eager to see how increased government oversight and regulatory clarity could change the dynamics of cryptocurrency assets.
The Lazarus Group case could prompt deeper investigations supported by international organizations, which could have far-reaching implications for global market stability.
Earlier we reported how Lazarus spreads the malware.
