- Claims connect platform to $1.4B Bybit and WazirX breaches.
- Garden Finance’s decentralization claim faces scrutiny.
- Investigation highlights crypto’s “crime supercycle” risks.
On June 21, 2025, a Bitcoin bridge platform known as Garden Finance was accused of serious claims. It is indicated that the platform handled illegal funds connected to large crypto heists. It has been reported that more than 80 percent of its recent 300,000 dollars of fees can be the result of laundered money. The accusations revolve around the Bybit hack of 1.4 billion and the other attacks connected to the Lazarus Group.
An October 24, 2024 post by @jzgulati listed 30.03 BTC in fees, before the Bybit hack. However, this defense has been challenged by further findings.
ZachXBT’s Investigation Reveals Details
ZachXBT, a prominent blockchain investigator, exposed the alleged misconduct. Evidence suggests that Garden Finance is used as a platform of conducting money laundering. The perceived decentralization of the platform was put into question following the instances where it was reported that a single entity was hosting the cbBTC liquidity.
ZachXBT, in a post, has pointed at other DPRK-related hacks, such as WazirX. The money that circulated in this bridge came through several breaches, according to what ZachXBT said, and this raises a lot of questions as to the transparency of the platform.
ZachXBT pointed towards the magnitude of the situation in another tweet, saying that the bulk of Garden Finance earnings were of criminal origin in the last few days. This has cast doubt over the solidity of d-f protocols.
Response and Counterclaims
Garden Finance co-founder Jaz Gulati countered the allegations. He claimed that 30 BTC in fees was created before the hack on Bybit, implying a legitimate earlier activity. Nevertheless, ZachXBT went further stating that there were links with the WazirX hack and further activity of the Lazarus Group.
The situation escalated when ZachXBT reported a failure by Garden Finance to conduct an analysis of the blockchain. The inability to track flows, ZachxBT noted, will hurt their decentralized model because a single entity is controlling transactions.
The revelations have spotlighted vulnerabilities in Bitcoin bridges. The situation with Garden Finance may hurt the faith in comparable solutions. With the breach of Bybit, which had a value of $1.4 billion, and the hack of WazirX, the necessity of putting these problems in order has been compounded.
Based on the findings of ZachXBT, the site is also responsible for a broader criminal supercycle in the cryptocurrency industry. Undocumented prevalence of decentralised systems has sparked off the pursuit of control and safety.
The crypto community has taken note of the allegations. According to posts on X, there is increased doubt about the activity of Garden Finance. The future of the platform depends on the way it will deal with these assertions and regain credibility.
