North Korean hackers stole approximately $1.5 billion from exchange platform Bybit in February 2025, an attack attributed by the FBI on February 26. Pseudonymous investigator ZachXBT infiltrated laundering networks by spending 349,700 USDC and accepting a 5% loss on each transaction, enabling him to trace over $12 million in stolen funds and contribute to Tether freezing 442,000 USDT. The US Treasury sanctioned Xinbi Guarantee in September, a marketplace estimated to have processed over $24 billion in digital assets and fiat currency since 2022. Huione Group, identified by FinCEN as having laundered at least $4 billion in illicit proceeds between August 2021 and January 2025, has also been targeted by US sanctions and had its computer infrastructure seized in June 2026.
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