SlowMist’s Yu Xian: The Chainflip bridge is working to block North Korean hackers from money laundering, but its on-chain transfer tracking lags behind.
1 days ago
SlowMist founder Yu Xian stated in a post that after hours of tracking the Bitget hack, the Chainflip bridge has been making significant efforts to block North Korean hackers from money laundering, but anti-money laundering (AML) and know-your-transaction (KYT) systems are lagging behind the hackers' laundering pace. The laundering ring automates the dispersal of large volumes of funds, cross-transferring them across different chains via various bridges. If the funds are blocked or returned due to risk control measures, the gang immediately switches to another laundering path, ultimately converting all funds to Bitcoin (BTC), then further mixing them via CoinJoin—a Bitcoin-based mixing method—on the Bitcoin network. This is an evolving, sophisticated money laundering operation.
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