eXch Underneath Scrutiny Over Alleged Ties to Lazarus Group
eXch Faces Accusations from Blockchain Analysts Over $35M Laundering
eXch Rejects Cash Laundering Allegations
Crypto alternate eXch has denied claims that it helped launder $35 million from the Bybit hack for North Korea’s Lazarus Group. The corporate mentioned it isn’t concerned in cash laundering for Lazarus or North Korea.
eXch admitted {that a} small a part of the stolen funds handed by way of its platform. Nevertheless, it mentioned this was a one-time occasion and never one thing it did on goal. The alternate additionally promised that any cash it earned from these transactions can be donated to assist the general public.
The alternate insisted it’s “not laundering cash for Lazarus/DPRK” and the corporate assured customers that its enterprise and funds have been protected and never affected by these claims.
On-Chain Analysts and Safety Companies Level to eXch
Regardless that eXch has denied the claims, some blockchain consultants and safety corporations nonetheless say the alternate was concerned in cash laundering. Analysts like ZachXBT and the safety agency SlowMist consider eXch helped course of stolen cash.
ZachXBT wrote in a Telegram put up that eXch dealt with $35 million in stolen funds. He additionally mentioned the alternate made a mistake and despatched 34 Ether (value about $96,000) to a different alternate’s scorching pockets.
Nick Bax, who’s a part of the white hat hacker group referred to as Safety Alliance, estimated that eXch processed about $30 million for North Korea. SlowMist additionally reported that a considerable amount of Ethereum (ETH) was became different cryptocurrencies utilizing eXch.
The largest crypto hack in history: Bybit’s $1.4 Billion Hack
The Bybit cryptocurrency alternate had the most important crypto hack in historical past, with hackers stealing 401,347 ETH (over $1.46 billion) in 2025.
The breach occurred throughout a routine switch between wallets, the place attackers manipulated the signing system and exploited Bybit’s multi-signature safety.
Investigations present that the Lazarus Group, which is linked to North Korea, may be behind the hack. The assault had a huge impact on the crypto market. It induced Ethereum’s worth to drop sharply.
This has made individuals fear extra concerning the security of cryptocurrency. It additionally exhibits that even large exchanges can have safety weaknesses.
Efforts to Freeze Stolen Funds Face Resistance
Bybit was as soon as accused of calling Pi a rip-off, however later, it discovered itself on the middle of a rip-off controversy. The corporate turned a suspect in fraudulent actions, and considered one of its managers was even jailed for scamming customers by way of Bybit.
Regardless of its scandal, Bybit has been working with business companions to recuperate stolen funds and has efficiently frozen over $42 million. Bybit’s Ex-WeChain Manager Jailed for $5.7M Crypto Theft. Nevertheless, not all exchanges have been cooperative, with eXch refusing to help within the course of.
When Bybit’s danger crew reached out to eXch, requesting it to freeze the hacked funds, eXch pushed again. As an alternative of complying, eXch accused Bybit of beforehand freezing its customers’ deposits with out clarification, claiming this had harmed its status.
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