eXch Denies Laundering Funds Stolen from Bybit

Reading Time: < 1 minute

Mixing platform eXch, which faced suspicions of assisting North Korea’s hacker group Lazarus in money laundering, has firmly denied these allegations.

According to crypto media outlet The Block on the 23rd, eXch addressed the claims in a forum post, stating, “Those who are attacking eXch now are those who want decentralization and on-chain privacy to disappear” and emphasized, “We are not laundering money for Lazarus and North Korea.”

The Bybit hacking event resulted in the theft of approximately $1.5 billion (around 2.16 trillion won) worth of Ethereum (ETH), marking the largest cryptocurrency hack in the industry’s history. The hacker group Lazarus from North Korea has been identified as the perpetrator.