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Investigation Reveals North Korean Hackers' $1.5 Billion Bybit Theft Money Laundering Network, U.S. Treasury Sanctions Involved Platforms
Blockchain investigator ZachXBT infiltrated a money laundering network, tracing over $12 million of the approximately $1.5 billion in cryptocurrency stolen by North Korean hackers from Bybit in February 2025, and prompted Tether to freeze 442,000 USDT. The U.S. Treasury Department subsequently sanctioned crypto platform Xinbi Guarantee, stating that it has processed over $24 billion in digital assets and fiat currency since 2022 and has been used by North Korean hackers for money laundering.
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