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Lazarus, a hacker group known to have ties to North Korea, has carried out a notable sell-off of its Ethereum ($ETH) holdings. According to on-chain data, the group sold off a total of 911 $ETH in the last two hours.
The sales were reportedly conducted at an average price of $2,499, with a total transaction value of approximately $2.28 million. The sale was allegedly carried out through a cryptocurrency address associated with the Lazarus group.
On-chain activity is particularly important for tracking the cryptocurrency assets of Lazarus, a group historically associated with major cyberattacks. The group has long been known for targeting the cryptocurrency sector with cyberattacks and moving stolen digital assets across different addresses.
The impact of the recent sale of 911 $ETH is expected to be limited compared to the transaction volume. However, large-scale cryptocurrency transfers are closely monitored by investors. In particular, the transfer of assets allegedly obtained through attacks to exchanges or different wallets is watched for potential selling pressure.
The movement of the Ethereum price during and after the sale will be important in assessing the impact of the transaction on the market. Whether more $ETH is held in addresses associated with the Lazarus group and whether new transfers will occur in the coming hours are also among the topics being monitored by on-chain analysis platforms.
The latest transaction once again highlighted the importance of Lazarus’s activities in the cryptocurrency market and the digital assets held by the group for investors.
*This is not investment advice.
Source: cryptonews.net