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ZachXBT says he infiltrated laundering connected to a Bybit hack

He claims to have used 349,700 USDC and took a 5% loss on each trade while placing orders through a broker who indicated the next destination for North Korea-linked funds.

Reported · Written up by our desk · Market Structure

Crypto investigator ZachXBT says he posed as a client to infiltrate a Chinese syndicate tied to laundering funds associated with a Bybit hack, according to The Defiant.

The investigator says he fronted 349,700 USDC and placed orders through a broker who told him in advance where North Korea's stolen funds were headed next.

He also alleges that he lost 5% on every order during the process.

The Defiant frames the episode as an attempt to trace how stolen crypto linked to North Korea moves after the Bybit hack.

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