ZachXBT: OTC trader "Wang Yicong" has helped the hacker group Lazarus Group launder tens of millions of dollars

on-chain detective ZachXBT posted that OTC trader Yicong Wang has been helping Lazarus Group convert tens of millions of stolen cryptocurrencies into cash through bank transfers since 2022. A few months ago, a follower contacted ZachXBT after their trading account was frozen following a P2P transaction with OTC Yicong Wang (using aliases such as Seawang, Greatdtrader, and BestRhea977). The follower shared one of Wang's Tron wallet addresses from their WeChat conversation screenshots. When viewing blockchain data related to Wang, a high illegal fund risk from Irys co-founder Alex Labs can be noticed. Alex Labs suffered a loss of about $4.5 million in May 2024 from a Lazarus Group hack. The 948K Ethereum address blacklisted by Tether in August 2024 is also directly related to Yicong Wang. It is evident from the blockchain that he is still actively helping Lazarus Group in recent weeks.