Security· ★★★★· neutral·

ZachXBT infiltrates Chinese laundering network that moved $1B for Lazarus Group

  • —ZachXBT spent $349,700 in stablecoins, accepting roughly 5% losses on transactions
  • —The network operated in Hong Kong and mainland China; an admin was known as 'Jimmy Green'
  • —Over $12 million tied to the Bybit hack was traced, and Tether froze $442,000 in USDT
  • —The network is also linked to laundering $387.5 million from Bitget and $292 million from Kelp DAO
Why it matters: The findings expose the scale of laundering infrastructure serving Lazarus Group and could increase pressure on Chinese intermediaries and exchanges.
#USDT
Source: Newsbit
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