ZachXBT Identifies a $5-10B Illicit Market on Tron Connected to Lazarus Group's Cyber Attacks

On-chain investigator, ZachXBT, has revealed that funds pilfered in recent crypto exchange hacks, allegedly conducted by the Lazarus Group linked to North Korea, have been effectively laundered via illegal networks and minor OTC brokers. He estimates that the clandestine "Black U" market on the Tron blockchain could be valued between $5 billion and $10 billion.

The investigator criticized the ease with which assets were laundered on platforms like Bybit, DMM Bitcoin, and WazirX, and the blind eye turned by protocol teams benefiting from fees despite over half of some protocols' usage potentially stemming from stolen funds. He also expressed concern over the lack of accountability in the crypto sector, suggesting that without enforcement or public pressure, the ramifications could be severe.