Crypto Sleuth ZachXBT Fronted $350K to Pose as a Client of Lazarus' Chinese Launderers

What happened

Crypto Sleuth ZachXBT Fronted $350K to Pose as a Client of Lazarus' Chinese Launderers, according to Decrypt and Protos. The on-chain (recorded on the blockchain itself rather than beside it) sleuth says he posed as a customer of a Chinese crime syndicate, fronting $349,700 and eating 5% on every order, to track Lazarus Group's Bybit loot in real time. ZachXBT posed as a money laundering client in order to expose a Chinese crime syndicate laundering funds for North Korea's Lazarus Group.

The post ZachXBT poses as money launderer to infiltrate Lazarus network appeared first on Protos . Crypto sleuth ZachXBT claims he was able to infiltrate a Chinese organized crime syndicate that’s laundered over $1 billion in crypto for North Korean hacker collective Lazarus Group.

Last week, Zach uncovered multiple Chinese Telegram and Discord accounts looking for help with laundering funds stemming from September’s $387 million Bitget hack. According to Zach, he was able to contact one of these accounts, named “Jimmy Green,” and pose as a money laundering client to gather intel.

As part of this process, he sent them various sums of money to be laundered and noted down crypto addresses and other key information. ZachXBT says he infiltrated the network by posing as a customer, gaining information that helped trace funds from the $1.5 billion Bybit hack.