Exch cryptocurrency exchange announced the closure from May 1

Law enforcement officers from the USA and the European Union believe that about $ 35 million related to the February hacking of the BYBIT exchange was processed through EXCH. The North Korean hacker group Lazarus was involved in this attack, which managed to abduct $ 1.4 billion from the platform. The suspicion of law enforcement officers also caused that Exch positioned itself as a trading platform focused on confidentiality. The exchange used minimal user checks, allowing them to trade without undergoing identification (KYC).

Initially, EXCH denied any offenses, but later admitted that some of the funds from breaking BYBIT could go through it. At the same time, the exchange denies deliberate assistance to hackers. EXCH management reported that during a coordinated investigation by the European and American authorities, some of the exchange assets were confiscated. In addition, the platform needed to stop international operations. Exch said that the main reason for the departure of the market exchange is legal pressure and risk of compulsory execution.

Despite the accusations, the Exch team said that she still believes in the principles of decentralization and confidentiality. The exchange promised to sacrifice 50 bitcoins to support the development of software (software) with open source, focused on confidentiality. Thus, the site intends to contribute to the development of technology to increase anonymity, even despite the increased regulatory pressure.

Own token exchanges, EXC, fell by more than 30%within a few hours, since users hastened to withdraw their assets. Liquidity on the platform also also decreased.

Earlier, the media reported that the European Union regulators began an investigation against the OKX crypto platform, suspecting it to help conceal the traces of a large -scale hacker attack. However, the OKX administration denied these rumors, saying that “BYBIT Exchange spreads disinformation.”