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.