ZachXBT infiltrates $1B crypto syndicate to expose Lazarus Group
Blockchain investigator ZachXBT says he posed as a cryptocurrency client and advanced 349,700 USDC to build trust with a contact he identifies as part of a Chinese laundering syndicate. He alleges the network moved more than $1 billion linked to North Korean thefts. Information from their exchanges helped him trace a cluster of more than $12 million in funds from the 2025 Bybit exploit across several blockchains; Tether later froze 442,000 USDT linked to it. ZachXBT also said the contact discussed transfers before they occurred and referenced funds connected to the Poloniex exploit. The FBI separately attributed the Bybit theft of about $1.5 billion to North Korea. The syndicate’s scale and the contact’s links remain ZachXBT’s claims. He said he lost 5% on each trade and is seeking donations to fund further investigations.
