The world's largest crypto exchange hack, Bybit's $1.4 billion loss, has sparked concerns about the laundering of criminal proceeds in the crypto industry. Memecoin generator Pump.fun and permissionless token exchange ThorChain, among others, are striving to comply with Countering the Financing of Terrorism and Anti-Money Laundering rules. Bybit suffered the hack on February 21 and its executives' malicious transaction allowed hackers to steal ethereum from its wallets. Hackers have since liquidated some of the stolen funds, prompting decentralized protocol leaders to intervene. Researchers have alleged that the hackers have North Korean support, which could result in international sanctions. Preventing money-laundering activities is both a moral responsibility and potentially avoids criminal prosecution.



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