๐ฅ Chinese bankers at the epicenter of crypto crime โ TRM Labs investigation
๐จ 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.
๐ Key facts: โ Former U.S. Treasury employee Ari Redbord accused shadowy Chinese banks of servicing hackers and drug cartels.
โ He stated that all major criminal schemes โ from cybercrime to drug trafficking โ intersect through China's underground financial networks.
โ 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.
๐ฌ "This is not North Korea by itself. It was Chinese bankers who provided liquidity and covered the tracks," Carlsen stated.
๐ TRM Labs suggests implementing: โข Sanctions
โข Address blockades
โข Aggressive cyber defense
in order to strike at the financial backers of hackers and deprive them of their tools.
๐ Meanwhile, OKX has also come under the EU's scrutiny โ an investigation is underway regarding the platform's involvement in concealing the traces of laundered assets after the Bybit hack.
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