ZachXBT says he posed as a client of an alleged Chinese laundering network and that his investigation helped identify more than $12 million in Bybit-linked funds. He reports that Tether later froze 442,000 USDT tied to the cluster. ZachXBT’s post · The Block’s summary

ZachXBT says he posed as a client of an alleged Chinese laundering network and that his investigation helped identify more than $12 million in Bybit-linked funds. He reports that Tether later froze 442,000 USDT tied to the cluster. ZachXBT’s post · The Block’s summary

He says he fronted $349,700 and accepted a 5% loss per order to build trust with an operator using the alias “Jimmy Green.” The claim that the network laundered over $1 billion across Lazarus-linked exploits is ZachXBT’s estimate, as reported by Cointelegraph. Bybit’s theft was about $1.5 billion; the earlier investigation reported $48.4 million recovered, and these newer reports do not provide an updated recovery total.

On-chain attribution identifies Jimmy Green’s Ethereum wallet as 0x1893…d216 and two Tron wallets as TS5h…d158 and TMGj…TuS; Arkham labels them Jimmy Green. The reported March 6 ERC-20 query found no transfers for the Ethereum address, while the available results provide no transaction identifier for the reported USDT freeze. Thus the freeze amount and broader cluster tracing are attributed to ZachXBT’s reporting, not independently demonstrated by the transaction records examined here.