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ZachXBT says Chinese syndicate laundered over $1B for Lazarus

ZachXBT said he infiltrated the laundering network in February 2025 and traced funds linked to the $1.5 billion Bybit hack.

Reported · Written up by our desk · Market Structure

Blockchain investigator ZachXBT said a Chinese organized crime syndicate laundered more than $1 billion stolen in multiple crypto exploits for North Korea’s Lazarus Group, according to Cointelegraph.

In an Oct. 5 X thread, ZachXBT said he infiltrated the money laundering network in February 2025, just days after the Bybit hack, by posing as a paying client and building trust with an operator he referred to as “Jimmy Green.”

ZachXBT said he put up $349,700 in stablecoins for the orders, taking a 5% loss on each order, and that the laundering operations spanned Hong Kong and mainland China.

Cointelegraph also reported that ZachXBT’s information helped trace funds from the $1.5 billion Bybit hack.

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