eXch exchange has issued a denial of allegations regarding laundering funds from the recent Bybit hack.
eXch Exchange Denies Involvement in Laundering
eXch has stated that it does not engage with illicit funds and that its operations remain secure. They emphasize their commitment to supporting projects focused on privacy and security.
Allegations and Evidence
Allegations against eXch emerged on social media after blockchain investigator ZachXBT claimed eXch processed $35 million of stolen funds. In response, eXch provided a correspondence with Bybit’s risk team discussing the freeze on stolen funds.
Bybit's Position and Hack Consequences
The Bybit hack is considered the largest crypto theft in history. Bybit has initiated a recovery program, offering a 10% bounty for recovered funds. eXch claims that Bybit had previously frozen user deposits, which affected their reputation.
eXch continues to deny laundering allegations while emphasizing the security of its operations despite scrutiny.
