According to @lookonchain, a hacker who stole $23 million from the Bittrue exchange in 2023 has commenced laundering $30 million in assets through the crypto mixer Tornado Cash. Citing analysis from EmberCN, the hacker executed a profitable trading strategy with the stolen funds, realizing a $9.37 million profit on Ethereum (ETH). The strategy involved selling ETH in 2023 when prices were high, repurchasing it after a significant price drop, and holding it through its recent rally. Market data shows ETH dropped to around $1,472 in April 2023 before recently climbing above $2,800. On-chain data from Etherscan also reveals the hacker made several deposits to the decentralized derivatives exchange HyperLiquid, indicating sophisticated trading activity. Debank data confirms that the full amount is now being processed through Tornado Cash, a move that complicates tracking and recovery efforts.

According to @lookonchain, a hacker who stole $23 million from the Bittrue exchange in 2023 has successfully generated a $9.37 million profit by strategically trading Ether (ETH), as cited by EmberCN. The hacker's strategy involved selling the stolen tokens in 2023, repurchasing ETH after its price dropped, and holding through the recent rally that saw prices reach as high as $2,873. Citing Debank data, the report indicates that the hacker has now begun laundering $30 million worth of ETH through the mixing service Tornado Cash. The on-chain trail on Etherscan also reveals previous laundering activities and deposits to the decentralized derivatives exchange HyperLiquid, suggesting complex financial maneuvers with the illicit funds.

According to @rovercrc, a hacker who stole $23 million from the Bittrue exchange in 2023 has reportedly made a $9.37 million profit by strategically trading Ether (ETH) and is now laundering $30 million through the Tornado Cash mixing service. Citing Debank data, EmberCN reported that the hacker sold the stolen tokens in 2023, repurchased them at a lower price, and held through ETH's recent rally. On-chain data from Etherscan also reveals deposits to the decentralized derivatives exchange HyperLiquid. Currently, ETH is trading around $2,520. In a separate development, the Trump-affiliated World Liberty Foundation announced a significant policy change, stating its WLFI token will soon become transferable and tradable, a reversal of its initial non-tradable design. This move could open up WLFI to secondary market speculation.

According to @Pentosh1, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in USDT linked to a massive 'pig butchering' scam, as detailed in a recent complaint. The investigation revealed that the disgraced former CEO of Heartland Tri-State Bank, Shan Hanes, embezzled $47 million and sent it to these scammers, directly causing the bank's collapse in 2023, according to the DOJ and a Federal Reserve report. Crypto exchange OKX played a crucial role by providing information that helped investigators trace the laundered funds through a network of over 200 accounts to a scam operation based in Manila. Former Acting U.S. Attorney Phil Selden characterized the seizure as a 'tone-setting case' to demonstrate the DOJ's commitment to recovering stolen crypto for victims. For traders, this major enforcement action, targeting billions in illicit transaction volume, underscores heightened regulatory scrutiny on crypto laundering and could impact compliance standards for exchanges and sentiment around stablecoins like USDT.

According to Fox News, the U.S. Department of Justice (DOJ) has initiated a civil forfeiture action to seize over $225 million in Tether (USDT) tied to a sophisticated 'pig butchering' scam. The operation, which involved laundering funds through the crypto exchange OKX, is directly linked to the 2023 collapse of Heartland Tri-State Bank, as its former CEO embezzled $47.1 million and lost a significant portion to the scammers, according to the complaint. The DOJ report states that OKX provided key information to help trace the funds, which were moved through hundreds of intermediary wallets and accounts. For traders, this large-scale seizure highlights increasing regulatory and law enforcement capabilities in the crypto space. The seized USDT will likely be added to a U.S. government crypto stockpile, a factor that could influence long-term market supply and regulatory perspectives on stablecoins.

According to @lookonchain, a hacker responsible for the $23 million theft from the Bittrue exchange in 2023 has initiated laundering the funds through the Tornado Cash mixing service. Citing Debank data, EmberCN reported that the hacker recently sent $30 million worth of Ether (ETH) to the service. The individual reportedly made a profit of $9.37 million by strategically trading the stolen assets, selling ETH in 2023, repurchasing it after a price drop, and holding it through its recent price appreciation. Debank data indicates that all the stolen funds are now being funneled through Tornado Cash. Additionally, the hacker's on-chain history on Etherscan reveals that some funds were also deposited to the decentralized derivatives exchange HyperLiquid, indicating complex laundering and trading activities.

According to the U.S. Department of Justice (DOJ), the collapse of Heartland Tri-State Bank in Kansas was directly tied to a large-scale 'pig butchering' crypto scam involving over $225 million in laundered USDT. The DOJ's civil forfeiture action targets laundered USDT linked to a Philippines-based scam network that exploited the former bank CEO, Shan Hanes. Crypto exchange OKX provided critical intelligence, helping trace the movement of funds through at least 93 scam addresses and 100 intermediary wallets before consolidation into OKX accounts. The DOJ identified $3.3 million of the $47 million Hanes embezzled, highlighting ongoing risks associated with USDT in criminal activity and the importance of compliance and transparency for exchanges. Traders should note that increased scrutiny on USDT-related transactions and future government actions to stockpile seized digital assets could impact USDT market liquidity and trading sentiment, especially as USDT remains a top stablecoin in crypto trading pairs. (Sources: DOJ complaint, CNBC, OKX disclosures)

According to ZachXBT on Twitter, more than 80% of fees generated by the entity in question originated from Chinese launderers transferring Lazarus Group funds connected to the Bybit exchange hack. This allegation underscores the ongoing risks related to illicit fund flows within the crypto ecosystem and may impact trading sentiment and compliance measures for platforms exposed to such activity (source: ZachXBT, Twitter, June 21, 2025).

According to PeckShieldAlert, crypto laundering due to hacks increased by 280% to $1.3B in 2024, while scam and phishing losses decreased by 24.14% to $834.5M.

According to PeckShieldAlert, the total value of hack-related crypto laundering in 2024 is $1.3B, a 280% increase from 2023's $342M.