- eXch denied laundering accusations, but admitted to processing a small portion of hacked Bybit funds
- Bybit is pursuing fund recovery through bounties, law enforcement, and Ethereum Foundation collaboration
The recent Bybit hack is being called the largest crypto theft in history and now, it has taken yet another twist.
Crypto exchange eXch now finds itself under scrutiny after some allegations linked it to North Korea’s Lazarus Group. In fact, it has been accused of laundering funds from the massive $1.4 billion breach on 21 February.
eXch crypto exchange denies allegations
Responding swiftly, eXch denied all allegations in a statement posted on the Bitcointalk forum on 23 February. It asserted,
“We are not laundering money for Lazarus/DPRK.”
The platform reassured users that its operations remain unaffected and all funds are secure.
While dismissing these claims as fear, uncertainty, and doubt (FUD), the exchange did however admit to processing a “small portion” of funds tied to the hack. According to the exchange, this was an isolated incident.
eXch went on to add that any transaction fees from these funds will be donated for public benefit.
As expected, the allegations agai…
