Crypto detective goes undercover in Chinese syndicate laundering $1 billion
Zachary Wolk, a blockchain investigator popularly known as ZachXBT, working as an Incident Response Advisor at Paradigm crypto firm, has detailed how he posed as a client to infiltrate a Chinese organized crime syndicate that has moved more than $1 billion tied to multiple blockchain exploits. On October 5, ZachXBT deconstructed his undercover operation that helped disrupt a sophisticated laundering network that is connected with the Lazarus Group , a cybercrime group operating on behalf of the North Korean government. In a bid to gain trust with this syndicate, the crypto investigator risked $349,700 of his own capital across 15 identified suspicious accounts. Specifically, he initiated test transactions, paid standard 5% fees, and traced illicit flows across major blockchains. One member of this criminal group, using the pseudonym Jimmy Green , reassured ZachXBT that the laundered funds were clear of freezing. Furthermore, this on-chain sleuth noted that th...
