Cryptocurrency exchange eXch has issued a formal denial of allegations that it helped launder funds from the $1.4 billion Bybit hack on February 21, 2025.
The exchange posted a statement on Bitcointalk forum confirming it processed only a small amount of the stolen funds through a single Ethereum address.
Blockchain investigators claim the platform handled over $30 million from wallets linked to North Korea’s Lazarus Group.
The conflicting narratives come as Bybit works to recover the largest cryptocurrency theft in history, with CEO Ben Zhou calling for industry cooperation to block the flow of stolen assets.
ZachXBT reported eXch procesed Bybit stolen funds
On-chain sleuth ZachXBT reported eXch processed $35 million of the stolen Bybit funds, with the exchange accidentally sending 34 ETH ($96,000) to another platform’s hot wallet.
Security firm SlowMist backed these claims, noting “large amounts of ETH” converted through eXch, while Security Alliance member Nic
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