eXch Closes Operations After Alleged Role in Bybit Hack Laundering

Privacy-focused cryptocurrency exchange eXch is shutting down operations on May 1, 2025, following allegations that it facilitated the laundering of funds stolen from Bybit during a historic $1.4 billion hacking event. The company’s decision comes after intense scrutiny from law enforcement probing its alleged connection to illicit transactions linked to North Korea’s notorious Lazarus Group.