Bitget Hackers Hit Roadblocks as Industry Blocks Laundering Routes

The recent Bitget hack has led to a significant loss of $388 million for the cryptocurrency exchange, allegedly perpetrated by North Korean attackers. By September 29, the industry had rallied together to prevent the stolen funds from being laundered.

NEAR Intents and Chainflip have joined forces with Tether and Circle in blocking cross-chain swap routes and freezing or blacklisting attacker-controlled funds. This move aims to strengthen crypto and DeFi security while highlighting ongoing risks associated with cross-chain transactions and illicit funding.