The Lazarus Group, a hacking collective linked with North Korea, possesses more bitcoin (BTC) than Tesla (TSLA), the electric vehicle company headed by Elon Musk, as reported by data from Arkham Intelligence.
As of now, Lazarus holds 13,441 BTC valued at $1.14 billion, according to their data. This amount is 16% greater than Tesla’s bitcoin reserve of 11,509 BTC.
Last month, the Lazarus Group targeted the crypto exchange Bybit, siphoning off $1.4 billion in ether (ETH) from the platform. Recently, part of the stolen funds has been converted to bitcoin, with 12,836 BTC spread across 9,117 distinct wallets, as confirmed by Bybit’s CEO.
Tesla accumulated its bitcoin reserve four years ago and has held onto it since, placing it as the fourth-largest publicly traded company globally in terms of bitcoin holdings.
The stark contrast between Tesla and the Lazarus Group comes amid growing calls for increased BTC adoption among corporations and countries, spurred by a favorable cryptocurrency stance from President Donald Trump.
On Thursday, Trump reiterated his ambition to establish the U.S. as the “undisputed Bitcoin superpower and the crypto capital of the world.” In light of this, it will be intriguing to see how Tesla and other American companies react to being outshined by a North Korean hacker.
Meanwhile, the U.S. government possesses 198,109 BTC worth over $16 billion, derived from coins seized through enforcement measures. Trump recently labeled these holdings as part of a strategic reserve.