Core Insights - North Korea-linked hackers were responsible for over half of the more than $2.7 billion stolen in cryptocurrency hacks in 2025, with a focus on targeting major exchanges and utilizing Chinese underground brokers for cashing out [1] Group 1: Trends in Cryptocurrency Hacks - The largest losses from 2023 to 2025 were attributed to "infrastructure attacks" such as hot-wallet and key compromises, rather than smart-contract bugs or protocol exploits, indicating a shift towards centralized exchanges and custodial service providers [2] - Notable hacks in 2023, including Atomic Wallet and CoinsPaid, were linked to North Korea, which has shifted its focus from cross-chain bridges to more vulnerable centralized systems susceptible to social engineering [3] Group 2: Methods of Attack - By 2023, initial access to service providers was often gained through fake recruiters or credential theft, leading to compromised developer environments that could provide access to exchange-level keys [4] - The evolution of laundering methods has fragmented into various channels, including chain-hopping and underground banking systems, following sanctions against mixers like Tornado Cash [5] Group 3: Money Laundering Techniques - Stablecoins, particularly USDT on Tron, have become favored for off-ramping, with professional laundering organizations purchasing hacked crypto at discounted rates and settling off-chain [6] - Cyber defenses and anti-money laundering controls for exchanges are increasingly converging, necessitating advanced monitoring and detection methods beyond static blocklists [6]