Non-KYC exchange eXch denies money-laundering allegations as ETH reserves spike following Bybit hack

Non-KYC centralized exchange eXch has denied accusations that it’s laundering funds from the recent $1.4 billion Bybit hack on behalf of the Lazarus Group, though its team admits that some funds were processed by the exchange in an “isolated case.” Blockchain analysts traced funds from the Bybit hack to eXch, which saw its ETH reserves spike over the weekend. The exchange declined to block addresses flagged by Bybit as malicious, arguing Bybit “actively undermined [eXch’s] reputation.”