#ZachXBT揭露朝鲜10亿美元洗钱网络 On October 5, on-chain investigator ZachXBT published an investigation post revealing the results of his undercover investigation: a criminal money-laundering network that has laundered more than $1 billion in stolen crypto for the North Korean Lazarus hacker group, with the funds originating from multiple exchange attacks including Bybit and Bitget.
After Bybit suffered a $1.5 billion hack in 2025, ZachXBT posed as a buyer of the funds and personally spent 349,700 USDC to trade with the group’s intermediary Jimmy Green, proactively absorbing a 5% loss on each transaction to gain trust and map out the full path of fund transfers across chains and OTC cash-outs. Based on the intelligence obtained, the team identified $12 million in related illicit funds, and Tether later froze $442,000 USDT of that amount. This laundering network repeatedly moved assets among multiple public blockchains such as Ethereum, Solana, and TRON, split large sums, and used over-the-counter channels to convert them into fiat currency, concealing the source of the funds. This is only an on-chain investigation conclusion and not a judicial ruling; the incident is expected to further strengthen global regulatory scrutiny of crypto mixers and OTC money laundering.
Risk warning: Virtual currencies are extremely volatile. This information is provided for reference only and does not constitute investment advice.
After Bybit suffered a $1.5 billion hack in 2025, ZachXBT posed as a buyer of the funds and personally spent 349,700 USDC to trade with the group’s intermediary Jimmy Green, proactively absorbing a 5% loss on each transaction to gain trust and map out the full path of fund transfers across chains and OTC cash-outs. Based on the intelligence obtained, the team identified $12 million in related illicit funds, and Tether later froze $442,000 USDT of that amount. This laundering network repeatedly moved assets among multiple public blockchains such as Ethereum, Solana, and TRON, split large sums, and used over-the-counter channels to convert them into fiat currency, concealing the source of the funds. This is only an on-chain investigation conclusion and not a judicial ruling; the incident is expected to further strengthen global regulatory scrutiny of crypto mixers and OTC money laundering.
Risk warning: Virtual currencies are extremely volatile. This information is provided for reference only and does not constitute investment advice.