$BTC
The cryptocurrency exchange eXch shows signs of recovery after the closure post-Bybit✨✨✨📈📉💲✨
The world of cryptocurrencies observed the rise and fall of eXch, but researchers say the platform may still be operating in secret.
Once a favorite exchange for hackers and scammers, eXch was shut down by the German police in April, but continued activity suggests that the story is not over.
Without Know Your Customer (KYC) checks, eXch was not a typical cryptocurrency exchange. It operated more like an instant exchanger, allowing malicious actors and cybercriminals to go unnoticed for years.
Among its clients was the Lazarus Group. The state-backed North Korean hacking unit brought eXch into the spotlight in February when it used the platform to funnel part of the $1.4 billion stolen from Bybit. When Bybit traced its stolen funds to eXch, it requested assistance, but the platform refused.
This led to a heated debate about privacy versus security, but ultimately, eXch announced it would close its doors on April 17; on April 30, German authorities made it official.
But according to security firm TRM Labs, the platform may have continued operating stealthily after the closure. Here is the rise, fall, and life after the alleged cryptocurrency laundry eXch.
