Crypto exchange eXch has announced it will shut down on May 1 due to money laundering allegations

On April 18, crypto exchange eXch announced that it would cease operations on May 1 following reports that the platform was being used to launder some of the stolen funds from the Bybit exchange. In an announcement on April 17, eXch said that a majority of its management team voted to "cease operations and exit" in response to allegations that North Korean hacking group Lazarus Group used the platform to launder about $35 million of funds - which originated from the $1.40 billion hack attack on Bybit. The exchange said it had been targeted by a "joint transatlantic law enforcement operation" aimed at shutting down its business and possible criminal charges.
In a statement, eXch said: "While we have resisted repeated attempts to shut down our infrastructure and remain operational, we believe it is pointless to continue operating in a hostile environment where we have been targeted for signals intelligence surveillance only because someone has misinterpreted our purpose." The exchange initially denied allegations by blockchain detectives that it helped launder money at Lazarus Group, but admitted to handling "a very small portion of the funds" from the February hack.