HomeCryptocurrency NewsZachXBT Spent $350,000 Posing As A Crypto Laundering Client

ZachXBT Spent $350,000 Posing As A Crypto Laundering Client

Posted: 6 October 2026, 02:53 CET 1 min read

Crypto investigator ZachXBT spent $349,700 posing as a client of a group linked to North Korea, helping trace more than $12 million stolen in the $1.5 billion Bybit hack.

Crypto investigator ZachXBT spent $349,700 posing as a client of a crypto laundering group linked to North Korea, according to an October 5 post on X. The operation helped identify more than $12 million in funds linked to the $1.5 billion Bybit hack.

The investigation began in March 2025, when ZachXBT used his own funds to build trust with a Telegram contact known as Jimmy Green. He sent $349,700 in USDC through the contact, who allegedly charged a 5% fee on each transaction.

The transactions gave ZachXBT access to wallet addresses and other information connected to suspected laundering activity. He compared those details with public blockchain records to track the movement of funds across several networks.

His analysis linked part of the activity to Huione Guarantee, a Cambodian marketplace associated with money-laundering services. It also connected some wallets to hacks involving the Poloniex cryptocurrency exchange.

Tether later froze 442,000 USDT linked to the wallet cluster, based on information provided by ZachXBT. The investigator attributed more than $75 million in cryptocurrency freezes to investigations connected to North Korean activity.

Bybit disclosed the hack in February 2025. About $1.5 billion in cryptocurrency was stolen and moved across multiple blockchains. ZachXBT used transaction records and information obtained from the Telegram contact to identify wallet activity linked to part of the stolen funds.

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