TREE NEWS reports: Blockchain investigator ZachXBT said he posed as a client to infiltrate a Chinese money-laundering syndicate handling funds from the Bybit hack, fronting 349,700 USDC and paying a 5% fee on every order. The broker, he said, told him in advance where North Korea’s stolen funds were headed next.
ZachXBT Posed as Client to Infiltrate Laundering Broker Tied to Bybit Hack
This matters less as a hacking story than as a rare look inside the laundering layer that turns stolen crypto into spendable cash. The broker's willingness to reveal where North Korea's funds were headed suggests these syndicates operate with enough confidence to court new clients openly, which is the real exposure for exchanges and stablecoin issuers. Whether such infiltration changes enforcement, or simply documents a market that keeps functioning, is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.