🟥 Chinese bankers at the epicenter of crypto crime — TRM Labs investigation
🚨 According to TRM Labs, underground banking networks from China play a key role in laundering funds stolen in the largest hacker attacks on cryptocurrency exchanges.
🔎 Key facts: — Former U.S. Treasury employee Ari Redbord accused shadowy Chinese banks of servicing hackers and drug cartels.
— He stated that all major criminal schemes — from cybercrime to drug trafficking — intersect through China's underground financial networks.
— The Bybit hack of $1.4 billion in ETH in February, according to FBI analyst Nick Carlsen, was laundered not by North Koreans, but by Chinese bankers through Southeast Asia.
💬 "This is not North Korea by itself. It was Chinese bankers who provided liquidity and covered the tracks," Carlsen stated.
📍 TRM Labs suggests implementing: • Sanctions
• Address blockades
• Aggressive cyber defense
in order to strike at the financial backers of hackers and deprive them of their tools.
📌 Meanwhile, OKX has also come under the EU's scrutiny — an investigation is underway regarding the platform's involvement in concealing the traces of laundered assets after the Bybit hack.
