- eXch vehemently denied laundering accusations, but did admit to processing a smidgen of hacked Bybit funds
- Bybit is on a treasure hunt for fund recovery, employing bounties, law enforcement, and a sprinkle of Ethereum Foundation magic
In a plot twist that could make even the most seasoned soap opera writer raise an eyebrow, the recent Bybit hack has been dubbed the largest crypto heist in the history of ever. And just when you thought it couldn’t get any more absurd, enter stage left: eXch, the crypto exchange that has found itself in a bit of a pickle, allegedly linked to North Korea’s infamous Lazarus Group. Yes, you heard that right—North Korea! Because why not?
On February 21, a staggering $1.4 billion was whisked away in a breach, and eXch is now under the spotlight, accused of laundering a portion of those funds. It’s like being accused of stealing candy from a baby, only the baby is a multi-billion dollar crypto exchange.
eXch Crypto Exchange: “Not Us!”
The Voice of Reason?
Despite the chaos, Bybit CEO Ben Zhou called for collaboration, emphasizing that this issue transcends the interests of individual firms. In a moment of clarity, he stated,
“At this point is really not about bybit or any entity, it’s about our general approach towards hackers as an industry, really hope that @eXch can reconsider and help us to block funds outflowing from them.”
In fact, Zhou is committed to exploring every possible avenue to recover the stolen funds tied to the Lazarus Group hack. During a discussion on X Spaces, he laid out a multi-faceted strategy that includes launching a bounty program, cozying up to law enforcement, and collaborating with the Ethereum Foundation to find effective recovery solutions. Because when in doubt, call in the experts!
This comprehensive approach reflects Bybit’s determination to safeguard user assets and restore
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2025-02-25 09:13