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How do North Korean hackers or other notorious criminal groups cash out their crypto? All roads lead back to China, new research from @trmlabs shows. Read more: https://t.co/rGN8CX9TVb
Important piece by @s_lutz95 for @DecryptMedia on the need to go after Chinese money laundering networks. https://t.co/caRTIjXx0i
North Korea, Mexican cartels, & TG scammers have one thing in common: they all rely on the same underground Chinese networks to launder their crypto. @trmlabs leadership tells me they've discovered these Chinese money launderers are the essential link between all of crypto's https://t.co/ihXbCCUqEP
New research from TRM Labs highlights China's central role in facilitating crypto crime worldwide by acting as a hub for laundering cryptocurrency. The study reveals that various criminal groups, including North Korean hackers, Mexican cartels, and Telegram scammers, rely on underground Chinese networks to convert illicit crypto assets into cash. This network has enabled North Korea to evolve into a major crypto crime actor, responsible for thefts such as the $1.5 billion hack of Bybit. Experts emphasize the need to target these Chinese money laundering networks to disrupt the flow of criminal proceeds in the crypto ecosystem.
