eXch Shuts Down Amid Explosive Allegations of Laundering $1.5B Bybit Hack!

Privacy Experiment Turned Target of Transatlantic Takedown!

Holy smokes! The privacy-focused exchange eXch is slamming the brakes on May 1, caught in the crosshairs of a storm over accusations it's been used to wash dirty money from the jaw-dropping $1.5 billion Bybit hack. Talk about a bombshell!

eXch Team Blows the Whistle on "Transatlantic Operation"

In a no-holds-barred Apr. 17 notice on the Bitcoin Forum, eXch’s fearless crew spilled the beans, claiming they’re the targets of a massive “transatlantic operation” aiming to snuff out their operation and possibly toss key figures in the slammer for money laundering and terrorism. Can you believe it?

Czech Exchange Stands Firm: "We're About Privacy, Not Profit!"

This Czech-based bad boy, known for its laid-back know-your-customer vibes, threw down the gauntlet, insisting it was all about a privacy experiment, not chasing the almighty dollar. They're shouting from the rooftops that they never meant to fuel any shady biz. And get this—they’re not your run-of-the-mill “mixer”; they’re a privacy-focused instant exchange with a mission!

Intel From the Inside: eXch Caught in the Crosshairs

The team’s pulling back the curtain, saying they've got the lowdown from their buddies in the “state intelligence sector” that they’re smack in the middle of ongoing investigations about laundering those crypto bucks.

From Denial to Admission: eXch's Rollercoaster Ride

At first, eXch was all like, “No way, we didn’t launder those Bybit funds!” and laughed off claims they’d helped North Korea’s Lazarus Group. But then, bam! They fessed up to processing a “small portion” of the hacked cash. Talk about a plot twist!

Blockchain Sleuths Point Fingers: eXch at the Heart of the Laundry Ring

Blockchain analytics gurus like Elliptic and TRM Labs are pointing the finger, saying eXch was a key player in the laundering bonanza. After the Feb. 21 exploit that vacuumed ~401,000 Ethereum (ETH) from Bybit’s cold wallet, the Lazarus Group went full-on James Bond, using a web of decentralized exchanges, cross-chain bridges, and privacy tools, including eXch, to cloak the stolen loot’s origins.

eXch Fires Back: "Centralized Exchanges Are Clueless!"

In their shutdown notice, eXch didn't hold back, slamming centralized exchanges for what they called “nonsensical policies” that are about as useful as a screen door on a submarine when it comes to stopping money laundering. They doubled down on their mission to defend user privacy and threw down a cool 50 Bitcoin (BTC) to back open-source privacy projects in the Bitcoin and Ethereum worlds.

"Shutting Us Down Won't Stop the Bad Guys!"

Even as they’re pulling the plug, eXch’s not backing down, warning that turning off their lights won’t make the crypto bad guys disappear. “The goal of stopping eXch under the belief that it may stop all money laundering in the world is ridiculous,” they declared. Mic drop!

eXch's API Stays Hot: "Privacy Is Not a Crime!"

eXch’s API will keep the fire burning for their partners for a bit, while a new management team figures out the grand finale. And they’re going out with a bang, signing off with, “Privacy is not a crime!” You tell 'em, eXch!