China’s underground networks were ready for Bybit incident, analysts say

The rapid whitening of more than $ 400 million in bybit’s hacking suggests that North Korea may have expanded its operations, according to analysts.

More than $ 400 million in Go throughThe $ 1.46 billion incident was laundered in a few days, analysts of the Blockchain judicial company, TRM Labs North Korea May have expanded its laundering operations.

In a February 27 blogAnalysts stressed that Bybit attackers moved almost half a billion in less than a week, using intermediate wallets, crypto exchanges, decentralized exchanges and transverse bridges to hide the path.

“This rapid whitening suggests that North Korea has expanded its money laundering infrastructure, or that underground financial networks, especially in China, have strengthened their ability to absorb and treat illicit funds.”

TRM laboratories

Analysts note that North Korean pirates generally use cryptographic mixers to hide stolen funds before removing. But the magnitude of the appeal incident forced them to adopt new methods. Instead of mixers, they now use several decentralized wallets and platforms to obscure the monetary path.

Initially, some stolen Ethereum have been sent through BNB chain And Solara. Now the majority has been sent to Bitcoin network. Despite rapid whitening, a large part of Bitcoin remains intact, suggesting that attackers prepare for large -scale liquidation via over -the -counter networks, suggest analysts.

Bybit lost $ 1.46 billion in a several stages attack, which security experts are linked to a safe portfolio. The attackers would have compromise A safe developer device {Wallet}, deceiving the owner of Bybit portfolio in the signing of a malicious transaction.