Crypto Exchange Crisis: eXch Shutdown Looms!

The cryptocurrency exchange eXch has announced it will shut down starting May 1, due to allegations of involvement in laundering funds from a Bybit hack linked to the infamous North Korea's Lazarus Group. Claiming the hack, estimated at a $1.4 billion exploit, shook the crypto world, eXch's management cited a "hostile environment" and targeted operations as reasons for ceasing operations. Despite facing attempts to close down its infrastructure, eXch denied laundering claims but admitted processing minor funds related to the hack. As crypto trouble continues, eXch's closure underlines the industry's ongoing struggle with security and reputation challenges.