The Lazarus Group, a state-linked North Korean hacking organisation, now holds more bitcoin than Tesla, data from blockchain analytics firm Arkham Intelligence shows.
As of this week, Lazarus controls 13,441 BTC—valued at approximately $1.14 billion—making it one of the largest known BTC holders globally.
This figure exceeds Tesla’s 11,509 BTC, a holding the electric carmaker acquired in 2021 and has retained since.
This development comes as the United States, under President Donald Trump, has reiterated its ambition to become the global leader in digital assets, including Bitcoin.
Lazarus tied to $1.4B Bybit hack
The surge in Lazarus Group’s BTC holdings follows a major hack last month targeting crypto exchange Bybit.
The group allegedly drained $1.4 billion worth of Ether (ETH) from the platform.
Arkham Intelligence reports that some of the ETH were converted into Bitcoin soon after.
Blockchain data reveals that the hackers have distributed 12,836 BTC across 9,117 wallets.
Bybit CEO Ben Zhou confirmed the wallet activity, stating that a large portion of the stolen funds had been moved, though not fully liquidated.
These funds are now part of the stash that makes Lazarus one of the most prominent non-government BTC holders.
Despite being sanctioned by multiple jurisdictions, including the US Treasury, the group continues to operate across decentralised exchanges and blockchain networks with relative ease, leveraging the pseudonymous nature of crypto transactions.
Tesla holds 11,509 BTC since 2021
Tesla, the fourth-largest publicly listed company by BTC holdings, bought its 11,509 BTC in early 2021 and has not increased or sold the bulk of its position since.
The company’s investment, worth around $1.14 billion at the time of purchase, was part of a broader move into crypto spearheaded by CEO Elon Musk.
Musk has been both vocal and inconsistent about digital assets, supporting Bitcoin and Dogecoin at various times while also criticising the environmental impact of proof-of-work cryptocurrencies.
Tesla’s BTC holdings have remained dormant since mid-2021, with no further purchases or liquidations reported publicly.
By contrast, Lazarus Group has accumulated and moved BTC in real-time, often linked to crypto hacks and ransom payments, with Arkham Intelligence tracking their wallet movements following each high-profile breach.
US controls $16B in seized BTC
While Tesla and Lazarus are notable for their BTC stashes, the US government currently holds the largest amount among any public institution, with 198,109 BTC valued at over $16 billion.
These assets were seized through law enforcement operations, including crackdowns on darknet marketplaces, exchange breaches, and cybercrime investigations.
Trump’s crypto-forward messaging has sparked renewed interest in Bitcoin among institutional investors and corporates.
While Tesla remains a pioneer in BTC adoption among large firms, its inactivity in the space stands in contrast to ongoing developments.
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