PANews reported on February 24 that according to Theblock, the non-KYC centralized exchange eXch denied the allegations of money laundering on behalf of the Lazarus Group in a post on the forum. "Holding the opposite opinion is just the view of some people who want the interchangeability and on-chain privacy of decentralized currencies to disappear... These people have long hated decentralized cryptocurrencies."
“Exch[.]cx, a non-KYC exchange, has seen an unusual spike in ETH volume — 20,000 ETH in the last 24 hours compared to 800 ETH normally,” analyst Vxdb noted . “Their Bitcoin reserves are also empty, but their ETH reserves have increased by 900%.”
The eXch team acknowledged that “a small portion of the funds from the ByBit hack ended up in our addresses,” but called the transfer “an isolated case and the only portion processed by our exchange.” Later, the eXch team pledged to donate the proceeds of the funds to “various open-source initiatives dedicated to privacy and security within and outside the crypto space.”
In another post, the eXch team published a screenshot showing an email from a Bybit employee asking eXch to block certain wallet addresses that were flagged as receiving stolen funds. The team apparently rejected the request and accused Bybit of damaging its reputation by marking deposits from eXch addresses as “high risk.”
