The eXch crypto exchange will cease operations on May 1, 2025, following allegations linking it to the $1.4 billion Bybit hack and claims of complicity with North Korean hackers from the Lazarus group. CEO Johann Roberts stated the closure was prompted by information from a verified DOJ whistleblower. eXch has operated without typical KYC requirements, focusing on privacy, but now faces scrutiny over its involvement in money laundering activities. The shutdown announcement follows a rise in crypto crime, where $1.4 billion in assets were stolen from Bybit, leading to significant market instability. The FBI has linked the theft to North Korean hackers, who are actively laundering the stolen funds. eXch initially rejected allegations of wrongdoing, attributing them to outdated data from its AML screening service. As the situation evolves, eXch's approach to privacy amidst regulatory challenges has come under fire, with the exchange announcing it would provide API access to partners until its closure date.

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