Surge in Crypto Hacks Uncovered as Bybit Investigation Ignites Transparency Revolution
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Crypto Exchange eXch Denies Laundering Bybit Hack Funds for Lazarus Group
In a recent statement, non-KYC centralized exchange eXch has denied allegations of laundering funds stolen from the Bybit hack on behalf of the Lazarus Group. This denial comes amid claims that the platform processed a significant amount of stolen ETH.
According to accusations made by blockchain investigator ZachXBT and security firm SlowMist, eXch had moved over $35 million in stolen Bybit funds. Additionally, it was alleged that the exchange received ETH from wallets associated with the Bybit incident, before converting it into other cryptocurrencies.
However, the eXch team has vehemently denied these claims, stating that the transaction in question was an isolated case and not linked to them. They have also criticized ZachXBT’s statements, labeling them as unfounded and advising the community to verify information from credible sources instead of relying on amateur researchers.
The Bybit hack is now the largest crypto theft in history, with attackers making off with over $1.4 billion after gaining control of the exchange’s Ethereum multisig cold wallet. In response to the incident, Binance founder Changpeng Zhao has advocated for withdrawal pauses as a security precaution, citing his own experience of temporarily suspending withdrawals following a hack in 2019.
In this case, eXch’s denial of laundering Bybit hack funds could have significant implications for the exchange and its users.
Source: https://cryptopotato.com/crypto-exchange-exch-denies-laundering-bybit-hack-funds-for-lazarus-group/
