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.

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