On-chain detective ZachXBT revealed that a China-based crime network laundered over $1 billion for the North Korean hacking group Lazarus. In 2023, the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two crypto traders, one from Hong Kong and one from China, for helping DPRK convert stolen crypto and bypass financial controls. ZachXBT also linked Chinese actors to laundering funds from the Bitget exploit ($387.5 million in September) and the Kelp DAO exploit ($292 million in April).
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