Two weeks prior, North Korea’s cybercriminal network Lazarus Group maintained a stash of 7,813 BTC—then worth $856 million. Since that point, the group has liquidated approximately 1,938 BTC, shedding more than $212 million in value. As a result of this reduction, El Salvador now outranks Pyongyang, claiming the title of the fourth-largest sovereign bitcoin holder.

Lazarus Group’s Bitcoin Exodus Hands El Salvador the Global No. 4 Slot

At the time of writing, North Korea’s Lazarus Group holds 5,875 BTC, now valued at $645 million, following the divestment of 1,938 BTC since May 12. This shift moves North Korea into fifth place among nation-states by bitcoin reserves, according to Arkham Intelligence’s onchain data.

Leading the pack is the United States, with an estimated 198,012 BTC—valued at $21.72 billion at current market prices. The United Kingdom follows with a commanding reserve of 61,245 BTC, currently priced at $6.72 billion.

Two weeks ago, Bhutan trailed just behind the U.K. with 12,062 BTC. While the Royal Government of Bhutan still claims third, its holdings now sit at 11,879 BTC—worth about $1.3 billion—after offloading 183 BTC since May 12.

Thanks to North Korea’s recent offloading, El Salvador has climbed to fourth with 6,188 BTC, totaling $678.55 million. Still, Lazarus Group’s crypto holdings extend beyond bitcoin ( BTC).

The hackers are in possession of $7.84 million in tether ( USDT) and approximately $7.61 million in ethereum ( ETH), equal to 2,972 ether. The destination of the group’s dispersed BTC remains opaque, though blockchain watchers are definitely keeping tabs on the trail.

Much of the stash has been siphoned off in smaller increments and scattered across thousands of newly generated wallet addresses. Historical patterns indicate that these stolen coin fragments are likely to remain dormant for a while before making another move.