Current knowledge from the Dune Analytics reveals that Backyard Finance has skilled a outstanding progress in its platform which is witnessed by charts of BTC swaps, consumer interactions, and complete charges collected throughout Q2 of 2025 in comparison with Q1. Notably, because the platform displayed the Backyard Finance has facilitated a complete BTC quantity of 24,984 BTC, translating to over $1.5 billion throughout 40,571 atomic swaps. Additionally, it has gathered 40.11 BTC in charges, with the biggest single swap on its platform reaching 10 BTC.The info has positioned them as “the quickest Bitcoin bridge,” Backyard Finance’s spectacular progress within the first half of 2025 is clearly illustrated within the Dune Analytics charts. Nevertheless, this surge has not gone unnoticed. ZachXBT has raised suspicions, even accusing Backyard Finance of enabling the laundering of funds related to crypto thefts, together with the infamous $1.4 billion Bybit hack. Kee studying to know the entire story.ZachXBT Allegation On Backyard Finance The latest allegations in opposition to Backyard Finance has emerged in a stunning twist which is adopted by a publish by Jaz Gulati, the platform’s founder. Within the prior publish he highlighted its success by sharing a picture of the charges collected within the first week of June. Apparently, a recognized title within the crypto sector, ZachXBT, has come to mild. As he accused the protocol of producing over 80% of its latest charges by means of the laundering of funds, allegedly with the help of Chinese language launderers linked to the Lazarus Group. This declare by the onchain investigator, made on X earlier as we speak on the finish of the third week of June, has sparked vital curiosity throughout the crypto group. As that is elevating extreme and pressing questions in regards to the trustworthiness of decentralized platforms. Backyard Finance Founder Denies Allegations & Considers BaselessFollowing the ZachXBT’s allegations, Jaz Gulati, the founding father of Backyard Finance, responded by referencing a earlier publish the place he acknowledged that that they had obtained 30 BTC effectively earlier than the Bybit hack occurred. He connected a screenshot of this publish from This fall 2024 to assist his declare.Regardless of Gulati’s protection, ZachXBT doubled down, pointing to different hacks associated to the DPRK, together with the WazirX incident, which occurred previous to the Bybit hack. He additional questioned the legitimacy of Backyard Finance, labeling it a “pretend decentralized bridge.” In response, Gulati dismissed this characterization as misinformation, calling the “pretend decentralized” label unfounded.”pretend decentralized”, once more with the misinformation— Jaz 🌸 (@jzgulati) June 21, 2025 In a subsequent remark, ZachXBT alleged {that a} single actor has been constantly topping up cbBTC’s liquidity from Coinbase for Chinese language launderers whereas they moved the stolen funds from Bybit. Nevertheless, Gulati has but to answer this particular accusation, regardless of his earlier fast replies.A New member Joins The ExchangeAfter three hours of silence from Gulati, one other consumer, James Scaur, joined the dialogue, seemingly in assist of Gulati. Scaur advised {that a} Pareto distribution would possibly apply, the place a small variety of liquidity suppliers (LPs) contribute the vast majority of liquidity. He famous that this doesn’t essentially indicate centralization; it may merely imply that just one LP was in a position to meet the demand at the moment.On the subject of blocking swaps from hacked sources, Scaur acknowledged that it’s a advanced problem that continues to be troublesome to resolve.Extra lately, ZachXBT delivered a blow to James Scaur’s assist for the platform, as he as soon as once more criticized Backyard Finance for its lack of decentralization, noting that because the cap for giant swaps was raised to 10 cbBTC, just one entity has been fulfilling orders for weeks. He highlighted that exterior of Bybit funds, the platform has minimal exercise, making it simple to identify illicit transactions within the mempool. With Bybit-related transactions flooding in since April 2025, he identified that the staff had been warned about this problem. Because the cap was raised for giant swaps permitting as much as 10 cbBTC it’s solely been one single entity fulfilling orders for a number of weeks. Idk how one can name that decentralized…Outdoors of Bybit funds Backyard has minimal exercise thus it’s extraordinarily simple to catch the illicit…— ZachXBT (@zachxbt) June 21, 2025 He advised that if they can not block these transactions, they need to return the generated charges and disable bigger swaps, moderately than boasting about their charges whereas realizing their origins. Moreover, he talked about that the 30 BTC in charges is essentially attributable to an airdrop farming marketing campaign from early 2024.The heated change of replies on X has since escalated right into a public spat, however the allegation appears robust coming from ZachXBT’s findings. If the change continues then it may even immediate authorized scrutiny for Backyard finance.By no means Miss a Beat within the Crypto World!Keep forward with breaking information, knowledgeable evaluation, and real-time updates on the newest traits in Bitcoin, altcoins, DeFi, NFTs, and extra.FAQsWhat occurred to Bybit?Bybit suffered a significant hack on February 21, 2025, leading to roughly $1.5 billion in Ethereum tokens being stolen. The assault, attributed to North Korea’s Lazarus Group, exploited vulnerabilities in its multi-signature pockets’s consumer interface.What’s Backyard Finance?Backyard Finance is a “Bitcoin bridge” platform that claims to allow quick, zero-custody, cross-chain Bitcoin swaps, using atomic swaps and an intents-based structure. It has facilitated over $1.5 billion in BTC quantity.How do crypto bridges like Backyard Finance facilitate cash laundering?Crypto bridges can be utilized to maneuver stolen funds throughout blockchains, making them tougher to hint. Accusations in opposition to Backyard Finance counsel particular actors are exploiting this for laundering hacked funds.