Chinese crime network laundered over $1B for Lazarus: ZachXBT
Summary
Blockchain investigator ZachXBT says a Chinese crime syndicate laundered more than $1 billion in crypto stolen through multiple exploits for North Korea’s Lazarus Group. He claims he infiltrated the network in February 2025 by posing as a client, identifying more than $12 million in Bybit-linked funds; Tether later froze $442,000 in associated USDT. The investigation highlights Chinese intermediaries’ role in laundering North Korean crypto, alongside earlier US prosecutions and sanctions involving alleged facilitators. ZachXBT has also linked Chinese actors to laundering proceeds from the Bitget and Kelp DAO exploits.
