The crypto industry’s got itself a spicy little drama, and it’s not the kind you wanna ignore.
ZachXBT, the blockchain detective with a sharp eye, throws some serious shade at Jaz Gulati, the founder of Garden Finance.
The accusation? Gulati’s allegedly tangled up with funds from the infamous Bybit hack. Yeah, it’s like calling out your capo for skimming the family’s stash.
Hacking here and there?
Now, Gulati’s fires back, waving a screenshot from late 2024, claiming Garden Finance had 30 BTC long before the Bybit mess even happened.
A preemptive strike, you might say. But ZachXBT? He ain’t buying it. He points fingers at other shady hacks, like the WazirX incident, which, mind you, came before the Bybit hack.
He’s painting a picture that these hacks might be connected, with DPRK, the Democratic People’s Republic of Korea, lurking in the shadows.
Dirty money?
And it doesn’t stop there. ZachXBT calls Garden Finance a fake decentralized bridge. Oof.
And I did not even mention all of the other DPRK hacks yet like WazirX?
Imagine founding a fake decentralized bridge and not being able to read the blockchain to analyze such flows
— ZachXBT (@zachxbt) June 21, 2025
That’s like calling your family restaurant a front for something fishy. Gulati snaps back, calling that misinformation and insists Garden Finance is legit.
But the tension’s thick, like the kind you feel when two wiseguys stare each other down over a missing shipment.
And suprise, it gets even juicier. ZachXBT drops a new bombshell, he claims a single player has been topping up cbBTC’s liquidity from Coinbase to help Chinese launderers move stolen Bybit funds.
That’s a pretty heavy accusation, like saying someone’s been moving dirty money through the family vault.
And guess what? Gulati, who was quick on the draw before, hasn’t said a word about this one. The silence? It’s deafening.
Rumors
For the crypto community watching this, it’s like waiting for the boss to make a move after a big betrayal.
Everyone’s on edge, wondering what Gulati’s next play will be. Will he clear his name or let the rumors fester? Either way, this story is really far from over.
Trust is everything, and allegations like these can shake foundations faster than a bad deal at the poker table.
Now Garden Finance’s reputation hangs in the balance, and the whole sh*tshow is a strong reminder, in crypto, the line between innovation and scandal can be thinner than you think.
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