Lazarus Group Converts $WBTC to $ETH, Cashing in on 251% Profit

Lazarus Group, the notorious hacking group from North Korea, has reportedly made a significant offloading to get huge profit. As per the data from Spot On Chain, Lazarus Group has sold up to $3.51 in $WBTC, getting significant gains of nearly $2.51M. The on-chain analytics firm took to social media to offer insights into Lazarus Group’s $WBTC sell-off.

Today, the Lazarus Group (North Korean hackers) sold 40.78 $WBTC ($3.51M) for a $2.51M profit (+251%)—after buying it 2 years ago.They spent 999.9K $USDT to acquire the $WBTC at ~$24,521 in Feb 2023, and sold it for 1,857 $ETH at ~$86,170 just 12 hours ago.The hackers then… pic.twitter.com/KYQmqnJnIC

— Spot On Chain (@spotonchain) April 3, 2025

Lazarus Group Gains +251% Profit by Offloading 40.78 $WBTC

The data mentions that Lazarus Group offloaded 40.78 $WBTC to get a +251% profit, accounting for $2.51M. In exchange for the above-mentioned amount in $WBTC, they acquired nearly 1,857 $ETH. The respective purchase took place at $86,170 as an average per-coin price. The respective sale reportedly takes place a couple of years after the initial acquisition of the $WBTC holdings.

The Lazarus-linked wallet “0x784……176d5” originally purchased nearly 40.78 $WBTC back in February 2023. At the time, they spent a cumulative 999,900 $USDT tokens for that purchase, signifying $24,521 as a per-$WBTC price. Following that, Lazarus Group recently sold the respective holdings at Ethereum’s recent price increase. As a result of this offloading, they obtained a total margin of nearly 251% over 2 years. The hacking group executed several transactions to offload the $WBTC holdings on April 2, 2025.

Staggering $WBTC Sell-Off by Lazarus Group Raises Concerns among Regulators

According to Spot On Chain, this strategic $WBTC sell-off highlights Lazarus Group’s use of several addresses for the obfuscation of the track of illegally acquired funds. Lazarus Group has been associated with countless high-profile heists in the cyber world, including the attacks on DeFi platforms and crypto exchanges. The latest transaction triggers concerns among the worldwide regulators while Lazarus Group keeps exploiting the crypto sector.