Decrypt • October 5th 2026, 6:46 PM
Crypto Sleuth ZachXBT Fronted $350K to Pose as a Client of Lazarus' Chinese Launderers
Key Summary
Crypto sleuth ZachXBT has fronted $349,700 in USDC, absorbing a 5% loss on each order, to pose as a client of a Chinese laundering syndicate linked to the Lazarus Group, a suspected North Korean hacking organization. This operation revealed a $12M+ cluster of Bybit exploit funds. Tether later froze 442K USDT linked to the operation. Since 2022, ZachXBT has helped facilitate $75M+ in freezes tied to North Korean incidents. He funds his work through grants and donations.
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The on-chain sleuth says he posed as a customer of a Chinese crime syndicate, fronting $349,700 and eating 5% on every order, to track Lazarus Group's Bybit loot in real time.