tl;dr
The non-KYC centralized exchange eXch has denied accusations of laundering funds from the Bybit hack on behalf of the Lazarus Group. The exchange's response, posted on Bitcointalk, refuted allegations made by blockchain investigator ZachXBT and others, stating that the transaction in question was no...
eXch denies accusations of laundering funds from Bybit hack for Lazarus Group
The non-KYC centralized exchange eXch has denied accusations of laundering funds from the Bybit hack on behalf of the Lazarus Group. The exchange's response, posted on Bitcointalk, refuted allegations made by blockchain investigator ZachXBT and others, stating that the transaction in question was not linked to them.
CZ advocates for withdrawal pauses following Bybit hack
Meanwhile, Binance founder Changpeng Zhao (CZ) suggested halting all withdrawals as a standard security precaution following the Bybit hack, but faced criticism that this could cause panic. Zhao emphasized the need for judgment in such situations and expressed confidence in Bybit CEO Ben Zhou's crisis management.
EXCH’S RESPONSE
In a Feb. 23 announcement posted on the Bitcointalk forum, the eXch team said it is “Not laundering money for Lazarus/DPRK.” The exchange dismissed the accusations as a “targeted FUD attack” and clarified that the transaction in question was not linked to them. However, the team acknowledged that a small portion of the stolen funds had entered their platform but maintained that it was an isolated case and the only transaction from the incident processed by eXch.
CZ’S SOLUTION
The Bybit hack is now the largest crypto theft in history, with attackers stealing more than $1.4 billion after gaining control of the exchange’s Ethereum multisig cold wallet. Meanwhile, Binance founder Changpeng Zhao (CZ) has advocated for withdrawal pauses following the incident. In a February 21 post on X, the former executive commented: “Not an easy situation to deal with. Might suggest to halt all withdrawals for a bit as a standard security precaution. Will provide any assistance if needed. Good luck!”
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