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Crypto sleuths join hunt for $1.5bn stolen in biggest ever heist
ByBit is offering financial rewards to anyone who can spot criminals attempting to launder the stolen crypto.
Cryptocurrencies are stored in public wallets anyone can look up so it's possible to follow the money as the criminals split it into smaller chunks and send it through various channels to obscure its origins. There are no authorities such as central banks or regulators involved in crypto transactions which means anyone who falls victim to criminal behaviour does not have an obvious body to turn to for help. In a blog post Elliptic alleges that "hundreds of millions of dollars in cryptoassets derived from criminal activity, including multiple thefts perpetrated by North Korea" have been successfully laundered through the service.
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