Crypto sleuth links $500M in Iranian USDT to stolen Bybit funds
An independent blockchain investigator claims to have linked the more than $500 million in Tether (USDT) moved by Iran’s central bank to funds stolen from Bybit that are being laundered by a North Korean hacking group.
The anonymous sleuth, known as Tanuki42, looked into two leaked documents that made up Elliptic’s findings last week. Elliptic disclosed how Iran’s central bank was moving $507 million worth of USDT through the country’s biggest crypto exchange, Nobitex.
However, Tanuki42 believes that “the same entity who is selling USDT to the Central Bank of Iran 🇮🇷 is also buying USDT from groups laundering on behalf of DPRK 🇰🇵.”
Within the leaked letters, there were two addresses:
