ZachXBT infiltrates Lazarus Group-linked money laundering gang: invested nearly $3.5 million in OTC transactions, the other party used the alias Jimmy Green

Odaily Planet Daily News: Chain detective ZachXBT posted on X platform stating that he once impersonated a customer to infiltrate a criminal group suspected of money laundering for the North Korean-backed hacker group Lazarus Group, and assisted in freezing funds related to the Bybit attack event in 2025. ZachXBT said that after Bybit suffered an attack worth $1.5 billion in February 2025, he found more than 15 accounts in public Telegram and Discord groups seeking help with transactions related to stolen funds. He then contacted one Telegram user using the alias 'Jimmy Green' and built trust through multiple transactions. According to his disclosure, on March 6, 2025, he transferred $3.497 million USDC to an Ethereum address to conduct USDC to TRON chain USDT exchange transactions. The Gas funding source of this address can be traced back to Bybit attack funds and was publicly marked as a Bybit attack blacklist address. ZachXBT said that during subsequent communications, the other party revealed that their team had participated in handling the stolen funds from Bybit and had previously disclosed that the funds would be transferred on chains such as Solana. By matching transaction times, amounts, and on-chain data, he found a wallet cluster involving over $12 million in Bybit attack funds, with fund paths including BTC→ETH→SOL→TRON and other networks, where about 442,000 USDT had been frozen by Tether. The gang also tried to launder money through Uniswap liquidity pools and low-liquidity tokens. In addition, the other party also revealed that they had helped other clients handle about $3 million in fraud proceeds, and ZachXBT tracked that the related funds had flowed into wallets associated with the sanctioned Huione Guarantee. ZachXBT revealed that in this investigation, he first invested $3.497 million in funds and bore a loss risk of about 5% per transaction, and finally provided the obtained intelligence to relevant investigative agencies and law enforcement authorities. Since 2022, he has assisted in freezing over $75 million in funds related to North Korea events.