ZachXBT Posed as a Client to Infiltrate Chinese Syndicate Laundering Bybit Hack Funds
ZachXBT said he spent months posing as a customer to reach a Chinese laundering network linked to the February 2025 Bybit hack and Lazarus Group. He said he fronted $349,700 in USDC, paid 5% on each order, and used the access to trace funds and help freezes.
What this rests on
Claim by claim, with its source
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ZachXBT said he posed as a customer to contact a group tied to the February 2025 Bybit theft.
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He said that outreach helped freeze funds linked to the February 2025 theft and track suspected laundering activity.
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He said he fronted 349,700 USDC and paid 5% on every order while dealing with a broker who told him where North Korea's stolen funds were going next.
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He said he posed as a customer of a Chinese crime syndicate to follow Lazarus Group's Bybit loot in real time.
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He linked the undercover work to a 442,000 USDT freeze after identifying a cluster he tied to Bybit and valued at more than $12 million.
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He said the work exposed a laundering network he put at about $1 billion and helped trace $12 million in Bybit funds.
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He spent months posing as a customer inside a Chinese criminal network he said laundered more than $1 billion for Lazarus Group.
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The investigation began after the $1.5 billion Bybit hack, when suspicious accounts on Telegram and Discord sought laundering help.
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How the story was built
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
The Defiant
scoop
Oct 5 18:30
Breaks the event
+16 min
Decrypt
context
Oct 5 18:46
Its angle: fronting, sleuth, eating; with quotes
+1 h 53 m
Oct 5 20:23
+10 h 9 m
crypto.news
adds
Oct 6 04:39
Adds $1B, with quotes
+12 h 55 m
BeInCrypto
adds
Oct 6 07:25
Adds $1.5B, with quotes
+15 h 22 m
The Block
echo
Oct 6 09:51
No new facts: with quotes
+16 h 3 m
Oct 6 10:33
CR
CryptoPotato
echo
No new facts: tradertraitor, information, individual; with quotes
+1 d 12 h
Crypto News Australia
adds
Oct 7 06:41
Adds $75M, with quotes
+1 d 19 h
Crypto Economy
echo
Oct 7 14:16
No new facts: blockchains, soliciting, identified; with quotes
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4197 incidents stored · 1225 were as large as this one or larger ($350k)