Odaily Planet Daily News Crypto trading platform eXch announced that it will cease operations on May 1. It was previously reported that the platform was used to launder some of the stolen funds from the Bybit trading platform.
According to the official announcement released on April 17, eXch said that the majority of its management team voted to "cease operations and withdraw" in response to allegations that the North Korean hacker group Lazarus Group laundered about $35 million through the platform-the funds originated from the $1.4 billion hacker attack on Bybit. The trading platform said it has become the target of a "transatlantic joint law enforcement action" aimed at shutting down its business and possibly filing criminal charges.
The trading platform initially denied the allegations of the chain detective ZachXBT that it helped the Lazarus Group launder money, but admitted to handling a "very small part of the funds" from the February hacking incident. (Cointelegraph)