North Korean hackers use Xinbi platform's Black U service to clean up tens of millions of dollars worth of stolen assets

Chainalysis investigation shows that threat organizations associated with North Korea transfer and launder stolen cryptocurrency assets worth millions of dollars through the Xinbi Guarantee. Hackers use the Black U money laundering service on the Xinbi platform to exchange traceable stolen assets with stablecoins obtained from pig killing disks and emotional scams, and then exchange them for fiat currency through unlicensed over-the-counter trading platforms. This model involves funds related to Bybit and WazirX attacks. (Source: Chainalysis)