FBI Warns: Lazarus Group May Sell $40 Million in Bitcoin, Threatening Crypto Market

The U.S. Federal Bureau of Investigation warned crypto operators that entities connected to North Korean hackers may attempt to sell more than $40 million worth of stolen Bitcoin. This potential liquidation by the notorious Lazarus Group could introduce instability into the Bitcoin market.

Who is the Lazarus Group?

Lazarus Group was identified as the hacker behind crypto heists at Horizon and Ronin bridges, infamous for their sophisticated and large-scale cyberattacks. The US Federal Bureau of Investigation (FBI) has warned that hackers working with the North Korean hackers could be about to sell more than $40million worth of stolen Bitcoin, according to a statement by the Federal Bureau of Investigation (FBI).

FBI Issues Warning About $40 Million Bitcoin Sell-Off

The Federal Bureau of Investigation (FBI) recently issued a statement, raising awareness in the crypto community regarding blockchain activities of the Lazarus Group. The agency suspects that North Korea might try to liquidate the bitcoin, which is valued at over $40 million. Through its investigation, the FBI determined that the FBI warns of Lazarus Group's $40 million cryptocurrency theft, potential liquidation which may cause Bitcoin price instability.

Impact on Bitcoin Price and Crypto Security

The potential dumping of $40 million in Bitcoin by Lazarus Group raises concerns about downward pressure on the Bitcoin price. Crypto exchanges and operators are urged to be vigilant and implement enhanced security measures to detect and prevent any attempts by Lazarus Group to launder the funds. Stay informed and take precautions to protect your crypto assets.