ZachXBT’s Undercover Operation Exposes $12M Bybit Exploit Funds
- ZachXBT fronted $349,700 USDC on March 6, 2025, posing as a client of a Chinese laundering syndicate.
- The operation exposed over $12 million in funds from the Bybit exploit, leading to Tether freezing $442,000 USDT linked to it.
- Since 2022, ZachXBT has facilitated over $75 million in freezes related to North Korean incidents.
- The FBI attributed the February Bybit hack causing $1.5 billion losses to North Korean hackers known as TraderTraitor.
ZachXBT’s undercover work revealed significant illicit financial activities tied to the Bybit exploit and North Korean operatives. His efforts have led to substantial asset freezes and highlighted ongoing cybersecurity threats within the cryptocurrency space.
This operation underscores the critical role of on-chain investigators like ZachXBT in combating crypto-related crimes by tracing stolen assets and assisting law enforcement actions. (Source)
