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Lazarus Group Makes $2.51M Profit from $WBTC Sale: Report
In a recent report, it has been revealed that the notorious Lazarus Group has made a staggering profit of $2.51 million after selling 40.78 Wrapped Bitcoin (WBTC). This substantial gain is attributed to the group’s successful investment strategy, which resulted in a remarkable 251% return on its initial investment.
The Lazarus Group reportedly acquired the WBTC two years ago for approximately 999,900 USDT, at an average price of $24,521. Since then, the value of the digital asset has surged by more than 240%, reaching an impressive $81,931 per unit as of the reporting date.
The sale of the WBTC allowed the group to realize a substantial profit, with the funds being divided across several transactions. A portion of these proceeds was transferred to other wallets associated with the Lazarus Group, further solidifying its financial position and reinforcing concerns about its involvement in illicit activities.
Lazarus’s ability to generate massive profits from its crypto investments has raised eyebrows among cybersecurity experts and authorities worldwide. The group’s proficiency in exploiting digital assets for criminal purposes serves as a stark reminder of the need for enhanced security measures within the blockchain ecosystem.
As cryptocurrency analysts continue to scrutinize the Lazarus Group’s activities, they are left wondering how such groups can maintain their impressive returns despite being shrouded in controversy and scrutiny from law enforcement agencies.
Source: https://cryptotale.org/lazarus-group-makes-2-51m-profit-from-wbtc-sale-report/
