ZachXBT claims over 80% of Garden Finance’s fees are tied to crypto laundering, challenging the project’s decentralization narrative.
Blockchain sleuth ZachXBT has accused Garden Finance, which brands itself as “the fastest Bitcoin bridge,” of facilitating the laundering of funds linked to major crypto thefts, including the Bybit hack.
In a June 21 post on X, ZachXBT claimed that over 80% of Garden’s recent fee revenue stemmed from illicit transactions allegedly tied to the North Korean Lazarus Group.
The allegation came in response to an earlier post by Jaz Gulati, a co-founder of Garden Finance, who had recently touted the platform’s success, citing 38.86 Bitcoin (BTC) in collected fees — $300,000 of which was earned over the 12 days ending June 2.
