Crypto exchange eXch to shut down on May 1 amid money laundering allegations

Odaily News Crypto exchange eXch has announced that it will cease operations on May 1. Earlier reports said the platform was used to launder some of the stolen funds from the Bybit exchange.
According to an official announcement published on April 17, eXch said that the majority of its management team voted to “cease operations and exit” in response to allegations that the North Korean hacker group Lazarus Group laundered approximately $35 million through the platform — funds derived from the $1.4 billion hack of Bybit. The trading platform said it had become the target of a “transatlantic joint law enforcement operation” that aims to shut down its operations and possibly bring criminal charges.
The trading platform initially denied accusations by on-chain sleuth ZachXBT that it helped the Lazarus Group launder money, but admitted to handling a “very small portion” of the funds from the February hack. (Cointelegraph)