Controversial Exchange eXch To Shutter in May Amid Allegations the Project Laundered Crypto Stolen in Bybit Hack
The controversial exchange eXch plans to close its doors in May after facing allegations that it laundered crypto stolen in the record-setting Bybit exploit earlier this year.
In February, hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit in the largest crypto theft ever and possibly the biggest heist in world history.
The blockchain research firm Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
Elliptic also said that Lazarus used eXch as part of its process to launder the stolen crypto. The exchange…
