Crypto Sleuth Fronts $350K to Trace Bybit Loot
On March 6, 2025, on‑chain investigator ZachXBT fronted $349,700 USDC to infiltrate a Chinese laundering syndicate, exposing a $12M cluster of Bybit exploit funds and prompting a Tether freeze.
On March 6, 2025, on‑chain sleuth ZachXBT fronted $349,700 USDC to pose as a client of a Chinese laundering syndicate linked to North Korea’s Lazarus Group. The operation exposed a $12 million cluster of Bybit exploit funds and led to a Tether freeze of 442,000 USDT.
Infiltration and Fronting
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ZachXBT wired the USDC to a wallet that was traceable to Bybit exploit funds. He accepted a 5 % loss on each order, risking his own capital to build trust with the syndicate’s contact, “Jimmy Green.” The sleuth continued to transact, paying the 5 % loss on every order, until he gathered enough evidence.
Tracing the Loot
On March 12, 2025, ZachXBT matched a screenshot of a Thorchain bridge to a real‑time transfer of Bybit loot. The funds moved from Bitcoin to Ether to Solana and finally to Tron, totaling more than $12 million. Tether subsequently froze 442,000 USDT linked to the cluster.
Impact and Follow‑Up
Since 2022, ZachXBT has helped action over $75 million in freezes tied to North Korean incidents. His findings are shared with private‑sector investigators and law‑enforcement agencies. The latest operation demonstrates the continued effort to trace and disrupt illicit crypto flows.
Key facts
- ZachXBT fronted $349,700 USDC on March 6, 2025.
- He exposed a $12 million cluster of Bybit loot.
- Tether froze 442,000 USDT linked to the cluster.
- The sleuth has helped action $75 million+ in freezes since 2022.
- He operates through grants and donations.
Source: decrypt.co
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