Crypto Exchange EXch Denies Laundering Funds Stolen from Bybit
Cryptocurrency exchange eXch has denied allegations of laundering funds for North Korea’s Lazarus Group following a substantial hack on Bybit that resulted in a $1.4 billion loss on February 21, 2025.
In a February 23 statement on the Bitcointalk forum, eXch clarified that it is not involved in laundering money for Lazarus or the Democratic People’s Republic of Korea (DPRK). The exchange assured that its operations remain unaffected by the Bybit hack and confirmed that all funds are secure.
eXch admitted to processing a minor portion of the hacked funds but described it as an isolated occurrence.
The funds were traced to their address, 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123, and eXch stated that any fees obtained from this transaction would be donated for the public good. The exchange also clarified that no other Ethereum blockchain addresses, except those deposit addresses interacting with the specified address, are connected to eXch.
