North Korea Crypto Laundering Route Through Xinbi Exposed by New US Probe

• North Korea-linked actors routed Bybit and WazirX funds through Xinbi vendors.
• Black U services exchanged traceable crypto for stablecoins from other illicit pools.
• US authorities restrained over $52 million across Xinbi-linked wallets.

North Korea-linked actors moved tens of millions in stolen cryptocurrency through vendors operating inside Xinbi Guarantee, according to Chainalysis. The traced funds included proceeds from the Bybit and WazirX exchange hacks.

US authorities sanctioned Xinbi on September 9 and restrained more than $52 million across its vendor network. Officials described Xinbi as a Chinese-language marketplace supporting scams, cybercrime, and money laundering.

Xinbi Sold Laundering Services Through Telegram

Xinbi operated through hundreds of Chinese-language Telegram channels linking criminal customers with specialized vendors. Sellers adver…

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