Chinese crime network laundered over $1 billion for Lazarus Group, ZachXBT reveals
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Blockchain investigator ZachXBT reports that a Chinese organized crime syndicate laundered over $1 billion for North Korea’s Lazarus Group. Posing as a client in February 2025 following the Bybit hack, ZachXBT invested $349,700 in stablecoins with a 5% loss per order to infiltrate the network operating in Hong Kong and mainland China. The intelligence helped trace over $12 million in Bybit-linked funds, leading Tether to freeze $442,000 in USDT. Chainalysis notes North Korean hackers have stolen at least $6.75 billion in digital assets through 2025 using multi-stage laundering.
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