North Korea-linked threat groups used the recently sanctioned Xinbi Guarantee cybercrime marketplace to move and launder tens of millions of dollars in stolen cryptocurrency, Chainalysis said. The investigation found that hackers used a Xinbi service provider known as Black U to exchange traceable stolen assets for stablecoins (cryptocurrencies designed to track stable values) linked to pig-butchering and romance scams. The funds were then converted into fiat currency through unlicensed over-the-counter platforms, a process that reduced their traceability. Chainalysis' fund-flow chart linked the activity to assets associated with attacks on Bybit and WazirX.