ZachXBT Accuses Garden Finance For Laundering  Bybit Hack Funds

The post ZachXBT Accuses Garden Finance For Laundering  Bybit Hack Funds appeared first on Coinpedia Fintech News

Recent data from the Dune Analytics reveals that Garden Finance has experienced a remarkable growth in its platform which is witnessed by charts of BTC swaps, user interactions, and total fees collected during Q2 of 2025 compared to Q1. 

Notably, as the platform displayed the Garden Finance has facilitated a total BTC volume of 24,984 BTC, translating to over $1.5 billion across 40,571 atomic swaps. Also, it has accumulated 40.11 BTC in fees, with the largest single swap on its platform reaching 10 BTC.

The data has positioned them as “the fastest Bitcoin bridge,” Garden Finance’s impressive growth in the first half of 2025 is clearly illustrated in the Dune Analytics charts. 

However, this surge has not gone unnoticed. ZachXBT has raised suspicions, even accusing Garden Finance of enabling the laundering of funds associated with crypto thefts, including the notorious $1.4 billion Bybit hack. 

Kee reading to understand the whole story.

ZachXBT Allegation On Garden Finance 

The recent allegations against Garden Finance has emerged in a surprising twist which is followed by a post by Jaz Gulati, the platform’s founder. In the prior post he highlighted its success by sharing an image of the fees collected in the first week of June. 

Interestingly, a known name in the crypto sector, ZachXBT, has come to light. As he accused the protocol of generating over 80% of its recent fees through the laundering of funds, allegedly with the assistance of Chinese launderers connected to the Lazarus Group. 

This claim by the onchain investigator, made on X earlier today at the end of the third week of June, has sparked significant interest within the crypto community. As this is raising severe and urgent questions about the trustworthiness of decentralized platforms. 

Garden Finance Founder Denies Allegations & Considers Baseless

Following the ZachXBT’s allegations, Jaz Gulati, the founder of Garden Finance, responded by referencing a previous post where he stated that they had received 30 BTC well before the Bybit hack occurred. He attached a screenshot of this post from Q4 2024 to support his claim.

Despite Gulati’s defense, ZachXBT doubled down, pointing to other hacks related to the DPRK, including the WazirX incident, which took place prior to the Bybit hack. 

He further questioned the legitimacy of Garden Finance, labeling it a “fake decentralized bridge.” In response, Gulati dismissed this characterization as misinformation, calling the “fake decentralized” label unfounded.

"fake decentralized", again with the misinformation

— Jaz