Researcher Infiltrates Chinese Crime Syndicate Laundering Crypto for Lazarus Group
ZachXBT says he infiltrated a Chinese syndicate laundering Bybit proceeds for North Korea’s Lazarus Group.
Blockchain investigator ZachXBT said he posed as a customer inside a Chinese laundering syndicate he links to North Korea’s Lazarus Group and TraderTraitor. After the February 2025 Bybit theft, which he estimated at $1.5 billion, he contacted Telegram intermediary “Jimmy Green” and spent 349,700 USDC on test swaps. He matched wallets and advance tips to Bybit proceeds, including a Solana cluster above $12 million, and said Tether froze 442,000 USDT; he also reported 332,000 USDC tied to Poloniex. The article says the syndicate attribution and about $1 billion total are his unverified claims.
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