Crypto exchange eXch to shut down amid money laundering allegations

Cryptocurrency exchange eXch announced it will cease operations on May 1 after reports alleged the firm was used to launder funds from a Bybit hack.

In an April 17 notice, eXch said the majority of people in its management team voted to “cease and retreat” in response to the allegations that North Korea’s Lazarus Group used the exchange to launder roughly $35 million of the funds stolen in a $1.4 billion exploit on Bybit. The exchange said it was the subject of “an active transatlantic operation”...