Chinese crime network laundered over $1B for Lazarus: ZachXBT
ZachXBT says he infiltrated the network by posing as a customer, gaining information that helped trace funds from the $1.5 billion Bybit hack.
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What happened
ZachXBT says he infiltrated the network by posing as a customer, gaining information that helped trace funds from the $1.5 billion Bybit hack.
Reported details
- ZachXBT says a $349,700 undercover operation exposed an alleged $1B Lazarus laundering network and helped trace $12M in Bybit funds.
Why this matters
Chinese is an infrastructure change, not a market event: the thing to verify is whether the underlying record moved, or only the wrapper around it. A tokenized claim is unchanged if the ledger, custodian, and redemption terms are unchanged, however the announcement is framed.
Evidence boundary
The scope is limited to what the linked reports state, and where two of them diverge both positions are recorded without either being picked in advance.
What to verify
Verify Chinese on the chain: the deployed contract address and version, and whether the ledger of record changed or only the interface that reads it.
Sources and editorial check time
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Cointelegraph: https://cointelegraph.com/news/chinese-crime-network-laundered-over-1b-for-lazarus-zachxbt
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crypto.news Live: https://crypto.news/how-zachxbt-traced-bybit-hack-funds-to-a-lazarus-linked-network/
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Editorial source check time: 2026-10-06T05:01:49.450Z
This information is educational and is not financial, legal, or tax advice.