Exchange record
eXch
Privacy-focused non-KYC crypto exchange that announced it would cease operations on May 1, 2025 amid allegations that it processed funds tied to the Bybit hack and amid reported transatlantic law-enforcement pressure.
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Summary
Privacy-focused non-KYC crypto exchange that announced it would cease operations on May 1, 2025 amid allegations that it processed funds tied to the Bybit hack and amid reported transatlantic law-enforcement pressure.
Timeline
eXch said it had become the target of an active transatlantic operation amid allegations that Lazarus Group used the platform to launder funds from the Bybit hack; earlier reporting said eXch denied being a mixer but acknowledged processing a small portion of funds from the incident.
eXch announced that it would cease operations on May 1, 2025, describing a management decision to cease and retreat in the hostile legal and surveillance environment.
The Frankfurt public prosecutor's cybercrime unit and the BKA seized the Germany-based server infrastructure of eXch and confiscated cryptocurrency assets, with support from the Dutch FIOD.
Authorities stated that the seizure action shut down the eXch platform before the operators' announced 2025-05-01 closure date.
The announced eXch shutdown date was May 1, 2025, marking the terminal date used by HEI for the exchange entity.