{"id":22706,"date":"2025-04-18T12:17:10","date_gmt":"2025-04-18T12:17:10","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22706"},"modified":"2025-04-18T12:17:10","modified_gmt":"2025-04-18T12:17:10","slug":"crypto-exchange-exch-to-shut-down-amid-allegations-tied-to-bybit-hack","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22706","title":{"rendered":"Crypto Exchange eXch To Shut Down Amid Allegations Tied To Bybit Hack"},"content":{"rendered":"
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Cryptocurrency exchange eXch has announced it will officially cease operations <\/span>on May 1<\/span>, following allegations that the platform was used to launder funds connected to the high-profile Bybit hack. <\/span><\/p>\n

The decision was made public in <\/span>an April 17 statement<\/span><\/a>, where the exchange cited increasing pressure from authorities and internal consensus among its leadership team to withdraw from the market.<\/span><\/p>\n

The controversy centers on claims that North Korea\u2019s Lazarus Group laundered approximately $35 million through <\/span>eXch<\/span>. These funds were part of the estimated $1.4 billion stolen in a massive exploit targeting Bybit earlier this year. <\/span><\/p>\n

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eXch<\/span> Claims It\u2019s Target of Transatlantic Crackdown Amid Legal Threats<\/span><\/h2>\n

eXch<\/span> stated it had become the focus of an \u201cactive transatlantic operation\u201d designed to dismantle its infrastructure and potentially bring legal charges against its operators.<\/span><\/p>\n

Despite initial denials, eXch later acknowledged processing a small portion of the hacked funds. The company maintained that the transactions were \u201cinsignificant\u201d and insisted it had not knowingly facilitated illicit activity.<\/span><\/p>\n

In the shutdown notice, <\/span>eXch<\/span> criticized what it described as \u201ca hostile environment\u201d driven by misinterpretation of its privacy-focused operations. It claimed ongoing surveillance efforts, including signals intelligence (SIGINT), had made continued operation untenable.<\/span><\/p>\n

\u201cEven though we\u2019ve resisted several shutdown attempts, we see no value in remaining operational under constant threat,\u201d the company stated. <\/span><\/p>\n

Management emphasized its commitment to user privacy and criticized other exchanges for implementing <\/span>what it called<\/span> \u201cnonsensical policies\u201d under the guise of anti-money laundering.<\/span><\/p>\n

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eXch has announced that they will shut down all operations May 1st 2025.<\/p>\n

If you remember, during the ByBit hack Lazarus group used eXch to launder hundreds of thousands of dollars of stolen Ethereum. pic.twitter.com\/dIXHhaZmUA<\/a><\/p>\n

\u2014 vxdb (@vxdb) April 17, 2025<\/a><\/p>\n<\/blockquote>\n