"Chainalysis found that the stolen assets were mainly a fiat-backed stablecoin before being moved through a Tron-based decentralized exchange into TRX. This frantic swapping from stablecoins to more decentralized tokens is a hallmark tactic of cybercriminals and illicit actors attempting to launder funds before a centralized freeze can be executed."
"The review described the shutdown as a new stress point for infrastructure tied to sanctions evasion, indicating that the resilience of crypto networks is being tested by ongoing sanctions pressure."
Grinex's recent shutdown has drawn attention to potential crypto laundering tactics. Chainalysis analyzed the situation, noting that the fund movements do not align with typical law enforcement actions. The exchange claimed a cyberattack resulted in significant losses, but the analysis indicated that the stolen assets were converted into non-freezable tokens. This behavior suggests a strategy employed by cybercriminals to avoid asset freezes, highlighting the ongoing challenges in regulating crypto networks amid sanctions pressure.
Read at news.bitcoin.com
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