A blockchain researcher suggested that crypto -witwing through North Korean hackers can make 15-25% of LIFI activities.
Lifi protocol reported the highest activity figures to date. Blockchain researcher Zachxbt suggested That much of the volume of the cross-chain bridge was bound to North Korean hackers who money laundering funds.
On Tuesday 3 June, Zachxbt emphasized the record performance of Lifi Protocol. The founder of the protocol, Arjun Chand, shared May data with $ 3 billion in volume and 4.37 million carried out transactions. Moreover, he claimed that more than 510,000 unique users were operated.
Zachxbt noted that the founder did not tackle the likely reason behind the considerable increase in the activity. According to the researcher, the primary driver was linking money to recent North Korean hacks.
“Fun fact: when your favorite cross-chain bridge bends record use/volume statistics for the month, there is a good chance that the activity comes from Hacks DVK white funds,” Zachxbt.
North -Korean hackers money laundering of half the money from Bybit
The researcher explained that the apparent peak in the network volume probably came from money laundering related to the Bybit -Hack. These hackers use complex operations that are designed to cover up the source of funds, which considerably increases network activity.
“The use is exaggerated because they repeatedly cover the jump of the hop chains to hide movements,” Zachxbt claimed. He added that “DVK represented at least 15-25% of lifi activity during the period.”
Although blockchain transactions are technically transparent, various money laundering tactics can obscure their origins. These include frequent chain hopping, token waps and the splitting of funds over thousands of portfolios practices that make tracing almost impossible.
The Bybithackers seem to have succeeded in their efforts. By the end of May, more than half of the $ 1.4 billion in stolen funds were reportedly non-traceable on the chain, indicating that she had been successfully washed.