TREE NEWS update: Chain investigator ZachXBT said he went undercover posing as a laundering client and helped freeze part of the $1.5 billion stolen from Bybit in February 2025, after gaining the trust of a Chinese-speaking team that claimed to have laundered most of the haul for North Korea’s Lazarus Group. He said 442,000 USDT tied to a wallet cluster holding over $12 million of the funds was frozen by Tether, and that he has passed findings to law enforcement.
ZachXBT Says Undercover Probe Helped Freeze Bybit Hack Funds
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AI take
This marks a shift in how stolen crypto is traced: not just public blockchain analysis, but human infiltration of laundering networks. The freeze shows stablecoin issuers can act as a chokepoint, though only a fraction of the haul was affected. For the industry, the key question is whether such undercover cooperation becomes routine, and whether law enforcement follows through on the findings.
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