Crypto Exchange eXch to Shutter Operations Following Allegations of Money Laundering

Cryptocurrency exchange eXch announced its closure on May 1st, following allegations that it was involved in laundering funds from a Bybit security breach. The platform’s management team voted to cease operations after reports surfaced linking the exchange to North Korea’s Lazarus Group, which allegedly stole $35 million of the $1.4 billion stolen during the Bybit hack. eXch attributes its closure to global regulatory pressure and a misunderstanding of its mission.