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10/06/2026

ZachXBT Infiltrates $1B+ Chinese Laundering Syndicate Linked to Bybit Hack

What happened: Blockchain investigator ZachXBT revealed he personally fronted $349,700 to infiltrate a Chinese organized crime group accused of laundering over $1 billion from Lazarus Group-linked exp

ZachXBT Infiltrates $1B+ Chinese Laundering Syndicate Linked to Bybit Hack

What happened: Blockchain investigator ZachXBT revealed he personally fronted $349,700 to infiltrate a Chinese organized crime group accused of laundering over $1 billion from Lazarus Group-linked exploits, including the $1.5 billion Bybit hack in February 2025. His undercover operation, which began in March 2025, helped identify a cluster of over $12 million in Bybit-linked funds and led to the freezing of $442,000 USDT and $332,000 USDC. The operation exposed key actors and wallet addresses, with corroboration from Tether and Arkham Intelligence.

Why it matters: The investigation demonstrates the increasing sophistication of both cybercriminals and independent blockchain sleuths. ZachXBT’s work highlights the persistent threat of cross-border laundering networks and the importance of on-chain intelligence in recovering stolen funds. The case also raises questions about the adequacy of current AML controls and the risks faced by individuals conducting such investigations.

Source: The Block