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ZachXBT infiltrates Chinese laundering ring to trace Lazarus Group funds
Blockchain investigator ZachXBT has revealed an undercover operation in which he posed as a client to infiltrate a Chinese money-laundering syndicate. The network is alleged to have laundered over $1 billion for the North Korean-linked Lazarus Group across various cryptocurrency exploits.
To build credibility with an operator using the alias “Jimmy Green,” ZachXBT used approximately $349,700 of his own funds to conduct stablecoin trades, accepting a 5% loss per transaction. This infiltration provided intelligence that helped trace more than $12 million in funds linked to the February 2025 Bybit hack, an incident the FBI attributed to the North Korean hacking group TraderTraitor.
The investigation led to the identification of a cluster of wallets and prompted Tether to freeze 442,000 USDT. ZachXBT noted that the laundering network operated through both mainland China and Hong Kong. He stated that his findings contributed to more than $75 million in total crypto freezes related to North Korean activities since 2022.
Entities
Bybit · Lazarus Group · Tether · TraderTraitor · ZachXBT
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] ZachXBT used $349,700 of his own funds to conduct the undercover operation. phocapblockchain.net · bitcoinworld.co.in · www.cryptobreaking.com · journalducoin.com · www.spacemoney.com.br · +3 more
- [● 8 SOURCES] The operation helped trace more than $12 million in funds linked to the Bybit hack. phocapblockchain.net · bitcoinworld.co.in · www.cryptobreaking.com · journalducoin.com · www.spacemoney.com.br · +3 more
- [● 2 SOURCES] The FBI attributed the February 2025 Bybit hack to the North Korean group TraderTraitor. phocapblockchain.net · decrypt.co
- [○ 1 SOURCE] ZachXBT has helped action over $75 million in crypto freezes related to North Korean activity since 2022. coinedition.com
- [● 8 SOURCES] The Chinese syndicate laundered over $1 billion for the Lazarus Group. phocapblockchain.net · bitcoinworld.co.in · www.cryptobreaking.com · journalducoin.com · www.spacemoney.com.br · +3 more
- [● 8 SOURCES] ZachXBT infiltrated a Chinese laundering syndicate by posing as a client. phocapblockchain.net · bitcoinworld.co.in · www.cryptobreaking.com · journalducoin.com · www.spacemoney.com.br · +3 more
- [● 8 SOURCES] Tether froze 442,000 USDT connected to the uncovered wallets. phocapblockchain.net · bitcoinworld.co.in · www.cryptobreaking.com · journalducoin.com · www.spacemoney.com.br · +3 more