Crypto Exchange eXch Shutting Down Following Links to Lazarus, Bybit Hack
eXch crypto exchange will cease operations on May 1 due to connections with the $1.4 billion Bybit hack and ongoing investigations into money laundering and terrorism. The exchange, which operates without KYC requirements, faced allegations of facilitating funds for North Korea's Lazarus Group. CEO Johann Roberts cited a whistleblower from the DOJ as a key factor in the decision to shut down, emphasizing the hostile environment for their operations. eXch will maintain API access until the closure, after which a new management team will assess future actions. The exchange previously denied allegations of money laundering but later acknowledged processing a small portion of the laundered Ethereum. eXch criticized the AML practices of other exchanges and highlighted challenges faced by non-KYC platforms in the industry.
