ZachXBT Exposes $1 Billion Crypto Laundering Syndicate Tied to Lazarus Group
Blockchain investigator ZachXBT went undercover to expose a crypto laundering syndicate linked to the Lazarus Group. By posing as a client, he infiltrated the network and allegedly uncovered over $1 billion in laundered funds from various exploits. ZachXBT funded 349,700 USDC to build trust with a contact known as Jimmy Green, leading to private conversations about stolen Bybit funds in 2025.
The investigation began after the February 2025 Bybit exploit, where ZachXBT traced over $12 million in stolen funds across Bitcoin, Ethereum, Solana, and Tron. He also reported a 442,000 USDT freeze by Tether. The contact provided details about moving funds to Solana, which matched on-chain transactions the next day. The FBI had previously attributed the Bybit theft to North Korea, calling it TraderTraitor.
ZachXBT's efforts extended beyond Bybit, linking the syndicate to a 332,000 USDC freeze tied to the Poloniex exploit in 2024. He lost 5% on each order during the investigation and appealed for continued funding to support such high-risk operations. The intelligence gathered helped freeze funds connected to the Bybit exploit.