ZachXBT infiltrates $1B crypto syndicate to expose Lazarus Group

NEW: Crypto investigator ZachXBT says he infiltrated a $1 billion crypto laundering syndicate by posing as a client to expose North Korea's Lazarus Group, helping trace stolen Bybit funds and secure a 442,000 USDT freeze.

ZachXBT went undercover inside a billion dollar laundering ring, with his own money.

The anonymous blockchain investigator says he posed as a client to a Chinese syndicate washing funds for North Korea's Lazarus Group. He fronted 349,700 USDC to a contact called Jimmy Green, swapping stablecoins across chains until the trust was real. That's when the contact started telling him where stolen Bybit money would move, before it moved. He said Solana, and the next day the funds showed up on Solana.

This traces back to the Bybit hack, which the FBI pinned on North Korea at roughly one and a half billion dollars. ZachXBT says his sting exposed a cluster of more than twelve million in stolen funds and got Tether to freeze 442,000 USDT.

One guy with a Telegram account and some patience did what entire agencies struggle to do. The launderers thought they had a customer. They had a camera.

This is Sara White, reporting for HIT.