Crypto Exchange eXch to Shut Down May 1 After Lazarus Group Links, $35M Laundering in Bybit Hack, 50 BTC Privacy Pledge

Cryptocurrency exchange eXch announced it will cease operations on May 1 following allegations linking it to North Korea’s Lazarus Group. The group is accused of laundering approximately $35 million connected to the $1.4 billion hack of the Bybit exchange. eXch acknowledged handling a small portion of the stolen funds but denied being a crypto mixing service. The exchange also committed 50 BTC to privacy development amid the scrutiny. eXch is a non-KYC exchange and its closure comes amid increasing regulatory and law enforcement attention on money laundering activities in the crypto sector. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant