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Cryptocurrency exchange eXch will close down on May 1 after being accused of facilitating money laundering of funds stolen in the record-breaking Bybit hack. The firm made the announcement yesterday in a statement that cited pressure from law enforcement as the primary reason for closure.
North Korean Hackers Tied To Stolen Funds
eXch was allegedly employed by North Korea’s Lazarus Group to wash around $35 million, part of a significantly larger $1.4 billion heist in February from rival exchange Bybit. The attack is one of the largest ever on the cryptocurrency space.
After initially claiming not to have participated, eXch later acknowledged that it had facilitated some funds from the hack.
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