🔴 $391 million vanished into the blockchain — how hackers laundered stolen crypto using THORChain

— Bybit CEO Ben Zhou reported: 28% of the $1.4 billion stolen from the exchange in March can no longer be tracked.

— Hackers funneled the funds through anonymous mixers (Wasabi, Tornado Cash) and bridges (THORChain, Stargate, etc.) → ultimately converted them to fiat through P2P and OTC.

What is known: — $960 million (69%) can still be tracked,

— $42 million (4%) was frozen with the help of Tether, Binance, and Huobi,

— But $391 million is already in the shadows — they were spread across 35,772 addresses (averaging 0.28 BTC each).

— A total of 944 BTC passed through Wasabi alone — the primary tool of North Korean hackers.

The key player in the scheme — THORChain: — Through it, 432,748 ETH ($1.21 billion) was converted into 10,003 BTC,

— And then part of it was returned back to Ether to further obscure the trail.

According to TRM Labs, such operations are often backed by North Korean groups, drug cartels, and underground banks from China.

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