North Korean hackers stole around $1.5 billion from Bybit in February 2025, but converting stolen cryptocurrency into purchasing power creates opportunities for investigators. ZachXBT said he committed 349,700 USDC to transactions with a laundering intermediary, accepting a 5% loss on each completed order. ZachXBT said information from the relationship helped trace more than $12 million in Bybit-linked funds and contributed to Tether freezing 442,000 USDT. Tracing funds does not establish recovery, and freezing tokens does not establish that Bybit received the tokens. US enforcement actions against Huione and Xinbi show how laundering infrastructure can be disrupted, although criminal customers can seek replacement providers.
