Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down

Crypto exchange eXch announced it is shutting down on May 1, following allegations linking the platform to the $1.4 billion Bybit hack in February.

Anonymous

Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down

eXch is a mid-sized cryptocurrency exchange that operated mostly under the radar, without the prominence of giants like Bybit, Binance, or Coinbase. The cryptocurrency exchange is known for its lax KYC (Know Your Customer) enforcement, which it offers to give users privacy and operations, allowing them to trade or withdraw large sums anonymously. Now, eXch has announced a potential closure of operations on May 1, 2025. This decision comes amid allegations of its involvement or complicity in the massive $1.4 billion hack of Bybit reported in February 2025, which involved laundering funds through its platform. The hack was attributed to North Korea’s infamous Lazarus Group by the Federal Bureau of Investigation (FBI). Now, investigators and blockchain analysts have traced a significant portion of stolen assets to wallets allegedly linked to eXch. On 17 April, eXch announced that it was being targeted by a serious international investigation, which could lead to its team facing charges like…

Post a Comment

<script type="text/javascript" src="https://www.blogger.com/static/v1/widgets/1372322573-widgets.js"></script>
<script type='text/javascript'>
window['__wavt'] = 'AOuZoY55cV6fzrPUO6zaxNOBbkQ4k4Ptmg:1747662651071';_WidgetManager._Init('//www.blogger.com/rearrange?blogID\x3d1778066057401188731','//www.finng.com.ng/2025/04/1-4-billion-crypto-heist-linked-to-exch-now-shutting-down.html?amp\x3d1','1778066057401188731');
_WidgetManager._SetDataContext([{'name': 'blog', 'data': {'blogId': '1778066057401188731', 'title': 'FinNG', 'url': 'https://www.finng.com.ng/2025/04/1-4-billion-crypto-heist-linked-to-exch-now-shutting-down.html?amp\x3d1', 'canonicalUrl': 'https://www.finng.com.ng/2025/04/1-4-billion-crypto-heist-linked-to-exch-now-shutting-down.html', 'homepageUrl': 'https://www.finng.com.ng/?amp\x3d1', 'searchUrl': 'https://www.finng.com.ng/search', 'canonicalHomepageUrl': 'https://www.finng.com.ng/', 'blogspotFaviconUrl': 'https://www.finng.com.ng/favicon.ico', 'bloggerUrl': 'https://www.blogger.com', 'hasCustomDomain': true, 'httpsEnabled': true, 'enabledCommentProfileImages': true, 'gPlusViewType': 'FILTERED_POSTMOD', 'adultContent': false, 'analyticsAccountNumber': 'G-THY23KTWS4', 'analytics4': true, 'encoding': 'UTF-8', 'locale': 'en', 'localeUnderscoreDelimited': 'en', 'languageDirection': 'ltr', 'isPrivate': false, 'isMobile': false, 'isMobileRequest': false, 'mobileClass': '', 'isPrivateBlog': false, 'isDynamicViewsAvailable': true, 'feedLinks': '\x3clink rel\x3d\x22alternate\x22 type\x3d\x22application/atom+xml\x22 title\x3d\x22FinNG - Atom\x22 href\x3d\x22https://www.finng.com.ng/feeds/posts/default\x22 /\x3e\n\x3clink rel\x3d\x22alternate\x22 type\x3d\x22application/rss+xml\x22 title\x3d\x22FinNG - RSS\x22 href\x3d\x22https://www.finng.com.ng/feeds/posts/default?alt\x3drss\x22 /\x3e\n\x3clink rel\x3d\x22service.post\x22 type\x3d\x22application/atom+xml\x22 title\x3d\x22FinNG - Atom\x22 href\x3d\x22https://www.blogger.com/feeds/1778066057401188731/posts/default\x22 /\x3e\n\n\x3clink rel\x3d\x22alternate\x22 type\x3d\x22application/atom+xml\x22 title\x3d\x22FinNG - Atom\x22 href\x3d\x22https://www.finng.com.ng/feeds/4699847244433189822/comments/default\x22 /\x3e\n', 'meTag': '', 'adsenseClientId': 'ca-pub-9340735057539134', 'adsenseHostId': 'ca-host-pub-1556223355139109', 'adsenseHasAds': true, 'adsenseAutoAds': true, 'boqCommentIframeForm': true, 'loginRedirectParam': '', 'view': '', 'dynamicViewsCommentsSrc': '//www.blogblog.com/dynamicviews/4224c15c4e7c9321/js/comments.js', 'dynamicViewsScriptSrc': '//www.blogblog.com/dynamicviews/834a042c9f4bbc2f', 'plusOneApiSrc': 'https://apis.google.com/js/platform.js', 'disableGComments': true, 'interstitialAccepted': false, 'sharing': {'platforms': [{'name': 'Get link', 'key': 'link', 'shareMessage': 'Get link', 'target': ''}, {'name': 'Facebook', 'key': 'facebook', 'shareMessage': 'Share to Facebook', 'target': 'facebook'}, {'name': 'BlogThis!', 'key': 'blogThis', 'shareMessage': 'BlogThis!', 'target': 'blog'}, {'name': 'X', 'key': 'twitter', 'shareMessage': 'Share to X', 'target': 'twitter'}, {'name': 'Pinterest', 'key': 'pinterest', 'shareMessage': 'Share to Pinterest', 'target': 'pinterest'}, {'name': 'Email', 'key': 'email', 'shareMessage': 'Email', 'target': 'email'}], 'disableGooglePlus': true, 'googlePlusShareButtonWidth': 0, 'googlePlusBootstrap': '\x3cscript type\x3d\x22text/javascript\x22\x3ewindow.___gcfg \x3d {\x27lang\x27: \x27en\x27};\x3c/script\x3e'}, 'hasCustomJumpLinkMessage': false, 'jumpLinkMessage': 'Read more', 'pageType': 'item', 'postId': '4699847244433189822', 'postImageThumbnailUrl': 'https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSFhj8qgnTjsvESRa4omYqiqTTK253nz9_fl3_kMrQRst43zIxOLjQWo6O7IYl-Lu-ZoODY_1w8cEcmxDGTLV0BYxyLks5aJosTbIRR6Jc8lxvkZR8fm0AqIupGgeWfoY4W02K7esF7W7ule3Dap7CXW91tzrl8vq8FY0oru-bcEAKagjKWzGf4RE-iXrw/s72-c/eXch_20250418_185840_0000.png', 'postImageUrl': 'https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSFhj8qgnTjsvESRa4omYqiqTTK253nz9_fl3_kMrQRst43zIxOLjQWo6O7IYl-Lu-ZoODY_1w8cEcmxDGTLV0BYxyLks5aJosTbIRR6Jc8lxvkZR8fm0AqIupGgeWfoY4W02K7esF7W7ule3Dap7CXW91tzrl8vq8FY0oru-bcEAKagjKWzGf4RE-iXrw/s16000/eXch_20250418_185840_0000.png', 'pageName': 'Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down', 'pageTitle': 'FinNG: Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down', 'metaDescription': 'Crypto exchange eXch announced it is shutting down on May 1, following allegations linking the platform to the $1.4 billion Bybit hack in February.'}}, {'name': 'features', 'data': {}}, {'name': 'messages', 'data': {'edit': 'Edit', 'linkCopiedToClipboard': 'Link copied to clipboard!', 'ok': 'Ok', 'postLink': 'Post Link'}}, {'name': 'template', 'data': {'name': 'custom', 'localizedName': 'Custom', 'isResponsive': true, 'isAlternateRendering': false, 'isCustom': true}}, {'name': 'view', 'data': {'classic': {'name': 'classic', 'url': '?view\x3dclassic'}, 'flipcard': {'name': 'flipcard', 'url': '?view\x3dflipcard'}, 'magazine': {'name': 'magazine', 'url': '?view\x3dmagazine'}, 'mosaic': {'name': 'mosaic', 'url': '?view\x3dmosaic'}, 'sidebar': {'name': 'sidebar', 'url': '?view\x3dsidebar'}, 'snapshot': {'name': 'snapshot', 'url': '?view\x3dsnapshot'}, 'timeslide': {'name': 'timeslide', 'url': '?view\x3dtimeslide'}, 'isMobile': false, 'title': 'Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down', 'description': 'Crypto exchange eXch announced it is shutting down on May 1, following allegations linking the platform to the $1.4 billion Bybit hack in February.', 'featuredImage': 'https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSFhj8qgnTjsvESRa4omYqiqTTK253nz9_fl3_kMrQRst43zIxOLjQWo6O7IYl-Lu-ZoODY_1w8cEcmxDGTLV0BYxyLks5aJosTbIRR6Jc8lxvkZR8fm0AqIupGgeWfoY4W02K7esF7W7ule3Dap7CXW91tzrl8vq8FY0oru-bcEAKagjKWzGf4RE-iXrw/s16000/eXch_20250418_185840_0000.png', 'url': 'https://www.finng.com.ng/2025/04/1-4-billion-crypto-heist-linked-to-exch-now-shutting-down.html?amp\x3d1', 'type': 'item', 'isSingleItem': true, 'isMultipleItems': false, 'isError': false, 'isPage': false, 'isPost': true, 'isHomepage': false, 'isArchive': false, 'isLabelSearch': false, 'postId': 4699847244433189822}}, {'name': 'widgets', 'data': [{'title': 'FinNG (Header)', 'type': 'Header', 'sectionId': 'sec_Header_Title', 'id': 'Header01'}, {'title': 'Looking for something?', 'type': 'BlogSearch', 'sectionId': 'sec_Header_Search', 'id': 'BlogSearch01'}, {'title': 'Header Icon', 'type': 'TextList', 'sectionId': 'sec_Header_Icon', 'id': 'TextList01'}, {'title': 'Bookmark Posts', 'type': 'LinkList', 'sectionId': 'sec_Header_Icon', 'id': 'LinkList02'}, {'title': 'Translate', 'type': 'LinkList', 'sectionId': 'sec_Header_Icon', 'id': 'LinkList03'}, {'title': 'Navigation Menu (Simple)', 'type': 'PageList', 'sectionId': 'sec_Nav_Widgets_1', 'id': 'PageList01'}, {'title': 'Additional Links', 'type': 'PageList', 'sectionId': 'sec_Nav_Widgets_2', 'id': 'PageList02'}, {'title': 'Social Links', 'type': 'LinkList', 'sectionId': 'sec_Nav_Widgets_2', 'id': 'LinkList04'}, {'title': 'Tabbed Menu', 'type': 'LinkList', 'sectionId': 'sec_Under_Header', 'id': 'LinkList05'}, {'title': 'Labels Description', 'type': 'LinkList', 'sectionId': 'sec_Under_Header', 'id': 'LinkList07'}, {'title': 'Blog Posts', 'type': 'Blog', 'sectionId': 'sec_Main_Widgets', 'id': 'Blog01', 'posts': [{'id': '4699847244433189822', 'title': 'Trail of $1.4B Bybit Crypto hack leads to eXch: the platform is shutting down', 'featuredImage': 'https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSFhj8qgnTjsvESRa4omYqiqTTK253nz9_fl3_kMrQRst43zIxOLjQWo6O7IYl-Lu-ZoODY_1w8cEcmxDGTLV0BYxyLks5aJosTbIRR6Jc8lxvkZR8fm0AqIupGgeWfoY4W02K7esF7W7ule3Dap7CXW91tzrl8vq8FY0oru-bcEAKagjKWzGf4RE-iXrw/s16000/eXch_20250418_185840_0000.png', 'showInlineAds': false}], 'footerBylines': [{'regionName': 'footer1', 'items': [{'name': 'author', 'label': 'Published by'}, {'name': 'timestamp', 'label': 'On'}, {'name': 'comments', 'label': 'Comment'}, {'name': 'icons', 'label': ''}, {'name': 'share', 'label': ''}]}, {'regionName': 'footer2', 'items': [{'name': 'labels', 'label': 'in'}]}, {'regionName': 'footer3', 'items': [{'name': 'location', 'label': 'Location:'}]}], 'allBylineItems': [{'name': 'author', 'label': 'Published by'}, {'name': 'timestamp', 'label': 'On'}, {'name': 'comments', 'label': 'Comment'}, {'name': 'icons', 'label': ''}, {'name': 'share', 'label': ''}, {'name': 'labels', 'label': 'in'}, {'name': 'location', 'label': 'Location:'}]}, {'title': 'Table of contents', 'type': 'HTML', 'sectionId': 'sec_Main_Widgets', 'id': 'HTML11'}, {'title': 'Popular Posts', 'type': 'PopularPosts', 'sectionId': 'sec_Side_Widgets', 'id': 'PopularPosts01', 'posts': [{'title': 'How to exit safety mode on Kuda', 'id': 3820063891627970231}, {'title': 'Naira is becoming the most unpredictable currency in the world', 'id': 8662057422663330077}, {'title': 'How to Use the \x22Glovo Paystack Link\x22 for Payment', 'id': 7705095611822601894}, {'title': 'How to Qualify for Renmoney Loan in Nigeria', 'id': 7070629887536093875}, {'title': 'Hindi version of Reddit is now available to Indians', 'id': 1089499912464363247}, {'title': 'Bybit adds U.S. stocks and commodities to trading portfolio', 'id': 6402059284218945882}, {'title': 'Starlink\x27s New $0 Hardware Plan: What You Need to Know', 'id': 7611294561657966541}, {'title': 'How to withdraw promo balance on Moniepoint', 'id': 1434505041514635581}, {'title': 'What is Total Assets in OPAY', 'id': 8102382603831269140}, {'title': 'Temu and Shein implement \u2018import charges\u2019 after Trump tariffs', 'id': 8645763858526243855}]}, {'title': 'Keywords', 'type': 'Label', 'sectionId': 'sec_Side_Widgets', 'id': 'Label01'}, {'title': 'Take me back', 'type': 'HTML', 'sectionId': 'sec_Error_404', 'id': 'HTML404'}, {'title': 'Organization [BlogTitle]', 'type': 'Image', 'sectionId': 'sec_Footer_Organization', 'id': 'Image21'}, {'title': 'Social Media Links', 'type': 'LinkList', 'sectionId': 'sec_Footer_Organization', 'id': 'LinkList21'}, {'title': 'Info', 'type': 'LinkList', 'sectionId': 'sec_Footer_Widgets', 'id': 'LinkList22'}, {'title': 'Legal', 'type': 'LinkList', 'sectionId': 'sec_Footer_Widgets', 'id': 'LinkList23'}, {'title': 'Credit', 'type': 'HTML', 'sectionId': 'sec_Footer_Bottom', 'id': 'HTML21'}, {'title': 'Mobile Menu', 'type': 'TextList', 'sectionId': 'sec_Mobile_Menu', 'id': 'TextList99'}, {'title': 'Labels', 'type': 'Label', 'sectionId': 'sec_Theme_Hidden', 'id': 'Label41'}, {'title': '\u09af\u09cb\u0997\u09be\u09af\u09cb\u0997 \u09ab\u09b0\u09cd\u09ae', 'type': 'ContactForm', 'sectionId': 'sec_Theme_Hidden', 'id': 'ContactForm41'}, {'title': 'Pageviews last month', 'type': 'Stats', 'sectionId': 'sec_Theme_Hidden', 'id': 'Stats41'}, {'title': 'Cookie Consent [NoTitle]', 'type': 'LinkList', 'sectionId': 'sec_Addon_Widgets', 'id': 'LinkList63'}]}]);
_WidgetManager._RegisterWidget('_HeaderView', new _WidgetInfo('Header01', 'sec_Header_Title', document.getElementById('Header01'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_BlogSearchView', new _WidgetInfo('BlogSearch01', 'sec_Header_Search', document.getElementById('BlogSearch01'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_TextListView', new _WidgetInfo('TextList01', 'sec_Header_Icon', document.getElementById('TextList01'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList02', 'sec_Header_Icon', document.getElementById('LinkList02'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList03', 'sec_Header_Icon', document.getElementById('LinkList03'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_PageListView', new _WidgetInfo('PageList01', 'sec_Nav_Widgets_1', document.getElementById('PageList01'), {'title': 'Navigation Menu (Simple)', 'links': [{'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/about.html?amp\x3d1', 'id': '5741639958231043733', 'title': 'About'}, {'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/contact.html?amp\x3d1', 'id': '6368070678347172752', 'title': 'Contact'}, {'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/privacy.html?amp\x3d1', 'id': '1401517536475341564', 'title': 'Privacy'}, {'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/sitemap_30.html?amp\x3d1', 'id': '8801175927625060341', 'title': 'Sitemap'}], 'mobile': false, 'showPlaceholder': true, 'hasCurrentPage': false}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_PageListView', new _WidgetInfo('PageList02', 'sec_Nav_Widgets_2', document.getElementById('PageList02'), {'title': 'Additional Links', 'links': [{'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/toc.html?amp\x3d1', 'id': '3291621679513381373', 'title': 'TOC'}, {'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/dmca.html?amp\x3d1', 'id': '6385697139528335532', 'title': 'DMCA'}, {'isCurrentPage': false, 'href': 'https://www.finng.com.ng/p/disclaimer.html?amp\x3d1', 'id': '1349291159043691645', 'title': 'Disclaimer'}], 'mobile': false, 'showPlaceholder': true, 'hasCurrentPage': false}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList04', 'sec_Nav_Widgets_2', document.getElementById('LinkList04'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList05', 'sec_Under_Header', document.getElementById('LinkList05'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList07', 'sec_Under_Header', document.getElementById('LinkList07'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_BlogView', new _WidgetInfo('Blog01', 'sec_Main_Widgets', document.getElementById('Blog01'), {'cmtInteractionsEnabled': false}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_HTMLView', new _WidgetInfo('HTML11', 'sec_Main_Widgets', document.getElementById('HTML11'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_PopularPostsView', new _WidgetInfo('PopularPosts01', 'sec_Side_Widgets', document.getElementById('PopularPosts01'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LabelView', new _WidgetInfo('Label01', 'sec_Side_Widgets', document.getElementById('Label01'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_HTMLView', new _WidgetInfo('HTML404', 'sec_Error_404', document.getElementById('HTML404'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_ImageView', new _WidgetInfo('Image21', 'sec_Footer_Organization', document.getElementById('Image21'), {'resize': true}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList21', 'sec_Footer_Organization', document.getElementById('LinkList21'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList22', 'sec_Footer_Widgets', document.getElementById('LinkList22'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList23', 'sec_Footer_Widgets', document.getElementById('LinkList23'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_HTMLView', new _WidgetInfo('HTML21', 'sec_Footer_Bottom', document.getElementById('HTML21'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_TextListView', new _WidgetInfo('TextList99', 'sec_Mobile_Menu', document.getElementById('TextList99'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LabelView', new _WidgetInfo('Label41', 'sec_Theme_Hidden', document.getElementById('Label41'), {}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_ContactFormView', new _WidgetInfo('ContactForm41', 'sec_Theme_Hidden', document.getElementById('ContactForm41'), {'contactFormMessageSendingMsg': 'Sending...', 'contactFormMessageSentMsg': 'Your message has been sent.', 'contactFormMessageNotSentMsg': 'Message could not be sent. Please try again later.', 'contactFormInvalidEmailMsg': 'A valid email address is required.', 'contactFormEmptyMessageMsg': 'Message field cannot be empty.', 'title': '\u09af\u09cb\u0997\u09be\u09af\u09cb\u0997 \u09ab\u09b0\u09cd\u09ae', 'blogId': '1778066057401188731', 'contactFormNameMsg': 'Name', 'contactFormEmailMsg': 'Email', 'contactFormMessageMsg': 'Message', 'contactFormSendMsg': 'Send', 'contactFormToken': 'AOuZoY5W9348OpxRvqv7yHtGrvaaFBqNUg:1747662651072', 'submitUrl': 'https://www.blogger.com/contact-form.do'}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_StatsView', new _WidgetInfo('Stats41', 'sec_Theme_Hidden', document.getElementById('Stats41'), {'title': 'Pageviews last month', 'showGraphicalCounter': false, 'showAnimatedCounter': false, 'showSparkline': true, 'statsUrl': '//www.finng.com.ng/b/stats?amp\x3d1\x26style\x3dBLACK_TRANSPARENT\x26timeRange\x3dLAST_WEEK\x26token\x3dAPq4FmCnwZAAPKIhWIp4Tpbp9JJ1_k7rMO2YJrMTrIdJwegKlCsS4zsn5dh16CG4Szi-XyLoSdUP6i04UcBGtLKXxvdzfmvx5w'}, 'displayModeFull'));
_WidgetManager._RegisterWidget('_LinkListView', new _WidgetInfo('LinkList63', 'sec_Addon_Widgets', document.getElementById('LinkList63'), {}, 'displayModeFull'));
</script>
</body>