SlowMist’s Cos says Chainflip is trying to block North Korean laundering, but tracking is still too slow

SlowMist founder Cos said on Sept. 29 that after tracking the Bitget hacker’s activity for several hours, he had come to what he called a “harsh reality”: Chainflip is indeed making a real effort to stop North Korean hackers from laundering stolen funds, yet AML and KYT systems are still moving more slowly than the laundering operation itself. According to his description, the laundering group breaks funds into many smaller pieces through automated processes, then routes them across different blockchains through multiple bridges. If one path is flagged by risk controls or a transfer is blocked and sent back, the operators quickly move to another route. Cos said the funds are ultimately converted into BTC, after which they continue to be obscured on the Bitcoin network through CoinJoin, a bitcoin mixing method. He described the process as an evolving laundering operation rather than a fixed playbook, highlighting how quickly illicit flows can adapt when confronted by onchain monitoring and compliance tools.