According to an announcement from Coinworld, on-chain detective ZachXBT stated that Chinese OTC trader Yicong Wang (王逸聪) has been helping the Lazarus Group convert tens of millions of stolen cryptocurrencies into cash via bank transfers since 2022. A few months ago, a follower contacted ZachXBT after their trading account was frozen following a P2P transaction with OTC trader Wang (who goes by aliases such as Seawang, Greatdtrader, and BestRhea977). He shared one of Wang's Tron wallet addresses from screenshots of their WeChat conversation. Upon examining blockchain data related to Wang, a high risk of illegal funds was noted from Alex Labs, co-founder of Irys. Alex Labs was hacked by the Lazarus Group in May 2024, resulting in a loss of approximately $4.5 million. An Ethereum address that was blacklisted by Tether in August 2024, which had 948K ETH, is also directly linked to Yicong. It is evident from the on-chain data that he has continued to actively assist the Lazarus Group over the past few weeks.