🔥 eXch Suspected of Money Laundering After Bybit Hack
The eXch exchange, which does not require KYC, is accused of being an intermediary platform that helped this group 'mix' money.
Blockchain experts discovered a large amount of ETH from wallets related to the hack that had been transferred to eXch, causing a surge in ETH trading volume. According to estimates by Nick Bax, a member of the Security Alliance (SEAL), he stated: 'eXch has processed about 30 million USD in transactions for North Korea'.
eXch denies the allegations, asserting that it does not launder money for Lazarus or the Democratic People's Republic of Korea and claims that the accusations come from individuals against the privacy of decentralized cryptocurrency. Although denying involvement, they admit that a small portion of the stolen funds passed through the exchange and commit to donating this amount to open-source projects.
Bybit CEO Ben Zhou calls for eXch to cooperate to prevent illegal money flows, emphasizing that this is an issue the entire crypto industry faces with hackers.
eXch has also publicly released an email from Bybit requesting to block wallets receiving stolen funds, but this exchange refused to cooperate and accused Bybit of having previously harmed its reputation.
The incident has sparked a debate between privacy and legal responsibility in the cryptocurrency industry.
