is exch.cx safe?

[TryNinja]

The good thing about exch is that they have an active team here so before depositing, visit ANN to make sure there are no issues. Personally, I have not had any issues with them but it is better to use your wallet before sending to any KYCed CEX.

exch ---> your_wallet ---> crypto exchange

Right, but remember most exchanges who use hard AML checking services will also detect that one extra hop, so if you really want to be safe, it's probably better to do a couple more before sending to the exchange. How many hops? There is no right number, but the more you do, the lower is the chance of them blocking your transfer.

[BenCodie]

I've had a few positive experiences with exch, each time the transaction went smoothly and I hadn't had any issues with any exchanges about coins that came from there. Seems like one of the few fair, smooth and privacy friendly swap services to me.

[NeoMoney]

Bumping it, is still safe now that Lazarus from bybit hack are laundering money through exch.cx?

Please respond, keep this thread updating regarding this matter as many people including me are still using exch.cx

Are we going to expect more bans from Cex's ?

[Jawhead999]

Bumping it, is still safe now that Lazarus from bybit hack are laundering money through exch.cx?

Please respond, keep this thread updating regarding this matter as many people including me are still using exch.cx

Are we going to expect more bans from Cex's ?

You better check their ANN thread eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20, Bybit's team actually reach out exch to ban certain addresses. But it seems they won't do it since they had a bad relationship with Bybit.

My speculation is yes, I expect more bans from CEX because when the sites is linked with criminals, they will become target, the worst case is seizure. Many articles claim them to be "mixer" instead of exchange.

[eXch Support]

Bumping it, is still safe now that Lazarus from bybit hack are laundering money through exch.cx?

Please respond, keep this thread updating regarding this matter as many people including me are still using exch.cx

Are we going to expect more bans from Cex's ?

Our exchange is operating normally and securely.

We adhere to highest standards of information security to ensure privacy and safety of our customers and their funds.

It is important to note that the recent ByBit hack is unrelated to our exchange and solely pertains to ByBit. This incident does not impact our operations in any way.

[hugeblack]

Bumping it, is still safe now that Lazarus from bybit hack are laundering money through exch.cx?

Please respond, keep this thread updating regarding this matter as many people including me are still using exch.cx

Are we going to expect more bans from Cex's ?

According to ---> https://exch.cx/faq it is still safe to deposit to Binance, Coinbase, Gate.io, HTX, Kraken, Gemini, OKX, Kucoin, Poloniex (this list is being reviewed daily) so it is better to make sure you are depositing to one of these exchanges or know how to break the link between your coins.

[tabas]

Bumping it, is still safe now that Lazarus from bybit hack are laundering money through exch.cx?

Please respond, keep this thread updating regarding this matter as many people including me are still using exch.cx

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

[PX-Z]

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

I hope it does, remember chipmixer didn't mind the funds stolen from binance hack to its platform way back then, months later, chipmixer was seized by interpol/FBI due to laundering issue.

This is by far the biggest hack in crypto space, if financial platforms coordinate to avoid such funds to pass through regardless if it's centralized or decentralized, i guess we're good, else don't expect authorities will just sit down and do nothing.

[Darker45]

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

I hope it does, remember chipmixer didn't mind the funds stolen from binance hack to its platform way back then, months later, chipmixer was seized by interpol/FBI due to laundering issue.

This is by far the biggest hack in crypto space, if financial platforms coordinate to avoid such funds to pass through regardless if it's centralized or decentralized, i guess we're good, else don't expect authorities will just sit down and do nothing.

Exactly. Cooperation is the key. Otherwise, they will remain as valid targets of government agencies.

However, it doesn't immediately follow that since eXch has already made a statement, there's nothing to worry about anymore. EXch can only issue clarificatory statements. How the authorities react is beyond their control. It may happen that the authorities don't buy their explanations. If the authorities arrested a mere developer who doesn't have control over an open-source decentralized platform, what prevents them to arrest somebody who is actually in control of a centralized platform?

I wonder, since you mentioned about financial platforms cooperating and "we're good", to what extent would eXch cooperate with government agencies? In the first place, they are a non-KYC platform. Would they be willing to abandon this policy in exchange for continued operation?

[FinneysTrueVision]

Saying that they processed but didn’t launder Lazarus funds doesn’t really clear things up in my opinion. I would think most governments would consider the act of exchanging dirty money for clean money a classic example of money laundering.

I don’t know how authorities will handle this situation, but users of centralized exchanges should always be prepared for potential disruptions of these kinds of services after seeing what has happened with Sinbad and ChipMixer.

[PX-Z]

I wonder, since you mentioned about financial platforms cooperating and "we're good", to what extent would eXch cooperate with government agencies? In the first place, they are a non-KYC platform. Would they be willing to abandon this policy in exchange for continued operation?

What I mean is the coordination of financial platforms to block these fund transfers from the addresses hackers used.

I really wonder if eXch will coordinate with the authorities, especially to implement AML in the future, it will be a big move. If it happens then most of their users will probably use alternatives instead.

[examplens]

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

Cointelegraph didn't say anything new here or present any kind of analysis, they just relayed eXch's statements from the forum. At the same time, they rely too much on ZachXBT analyses, which, (at least to me), seem semi-amateur.

This seems more like an attack on eXch and an attempt at disparagement. In the end, Bybit are the clowns of the decade.

[hugeblack]

I hope it does, remember chipmixer didn't mind the funds stolen from binance hack to its platform way back then, months later, chipmixer was seized by interpol/FBI due to laundering issue.

Exactly. Cooperation is the key. Otherwise, they will remain as valid targets of government agencies.
[/quote]
This may seem a bit off-topic but there is no direct link between the binance hack and ChipMixer Shut Down, as the investigation into ChipMixer took over a year and the indictment lists money laundering allegations against several parties^[1] (in fact some say the mixer was run by the Lazarus Group).

In simpler terms, the investigations only started after reports of an increase in *illegal* transactions linked to the mixer. In the case of eXch, it is still early days.

[1]

[pooya87]

It's unfortunate that there are always some who ruin things for everyone by abusing the system. But regarding the attacks on eXch I have to say these centralized exchanges should work on their own security to prevent getting hacked and losing a lot of money instead of attacking more decentralized platforms that don't ask their users to jump through a thousand hoops just to be able to trade fungible tokens in the decentralized world.

[tabas]

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

I hope it does, remember chipmixer didn't mind the funds stolen from binance hack to its platform way back then, months later, chipmixer was seized by interpol/FBI due to laundering issue.

This is by far the biggest hack in crypto space, if financial platforms coordinate to avoid such funds to pass through regardless if it's centralized or decentralized, i guess we're good, else don't expect authorities will just sit down and do nothing.

These hackers will do everything in their position to wash the money wherever they can but it's a good assurance that exch won't be tolerating if some funds from the hack comes inside.

You don't have to worry about it, exch has also released a statement about this matter. There's news[1] that I've read on cointelegraph, that there is nothing to worry about it. Despite that some white hat hackers said that exch is being used for that, they've released some clearing statement for everyone not to worry about.

[1] Crypto exchange eXch denies laundering Bybit’s hacked funds

Cointelegraph didn't say anything new here or present any kind of analysis, they just relayed eXch's statements from the forum. At the same time, they rely too much on ZachXBT analyses, which, (at least to me), seem semi-amateur.

This seems more like an attack on eXch and an attempt at disparagement. In the end, Bybit are the clowns of the decade.

I agree to you, they rely too much on zach. Well, it's good for the guy as he's gaining fame and is able to benefit from the information he's sharing to the public. It seems that the clown you've said is able to get their reserve funds back .

[Darker45]

I wonder, since you mentioned about financial platforms cooperating and "we're good", to what extent would eXch cooperate with government agencies? In the first place, they are a non-KYC platform. Would they be willing to abandon this policy in exchange for continued operation?

What I mean is the coordination of financial platforms to block these fund transfers from the addresses hackers used.

If they can, they probably will. Doing otherwise is an unnecessary invitation for the authorities to conduct an investigation and possibly impose sanctions on your platform.

I really wonder if eXch will coordinate with the authorities, especially to implement AML in the future, it will be a big move. If it happens then most of their users will probably use alternatives instead.

It might only be a matter of time. Especially now that they have already attracted the attention of the authorities. Their brand is all over the internet somehow involved in what's considered as the largest theft in history. I wonder how they would decide once the authorities bring them to the negotiating table. Standing up for certain principles might not only cost money but also the entire operation and possibly even freedom.

~snip~

~snip~

I agree to you, they rely too much on zach. Well, it's good for the guy as he's gaining fame and is able to benefit from the information he's sharing to the public. It seems that the clown you've said is able to get their reserve funds back .

There's also an Elliptic article published 3 days ago claiming that their analysis shows that $75 million of the stolen assets were exchanged using eXch and that the exchange refused to block the activity. They also presented a graph showing a sudden rise in daily volume following the hack.


https://www.elliptic.co/blog/bybit-hack-largest-in-history

[tabas]

I agree to you, they rely too much on zach. Well, it's good for the guy as he's gaining fame and is able to benefit from the information he's sharing to the public. It seems that the clown you've said is able to get their reserve funds back .

There's also an Elliptic article published 3 days ago claiming that their analysis shows that $75 million of the stolen assets were exchanged using eXch and that the exchange refused to block the activity. They also presented a graph showing a sudden rise in daily volume following the hack.


https://www.elliptic.co/blog/bybit-hack-largest-in-history

Interesting, I haven't read about that yet. But it is for sure that every services like them will be checked by all of these individuals and as well as auditors. I think arkm intelligence is also on it and made some illustrations just like this one that you have shared from elliptic. It's still a long development for this one and it's still as fresh as it does so, the story will continue to develop and then all of these services and what not will continue to follow where the money goes.

[Not ZachXBT]

The accusations against eXch have nothing to do with fungibility. Cash is also fungible, yet it is possible for it to be laundered. People are simply in denial, like they were with mixers, because they don't want to lose out on their weekly payouts.

The FBI has put out a statement in which they allude to eXch, mentioning how a portion of the stolen assets were converted to bitcoin.
https://www.ic3.gov/PSA/2025/PSA250226

Bybit has created a new website where eXch is the only service listed in the Bad Actors category. According to this website, nearly $100 million from this hack has been laundered through eXch.
https://www.lazarusbounty.com/en/detail?entity=eXch

[mindrust]

They are not going to scam you if that’s what you are asking. If you are saying if your funds will arrive at binance, so far there is no report saying otherwise. However the news you posted about the hackers that used exch is a bit concerning. The gov might go after it and shut it down soon. Don’t tell me they can’t do it because so far they took down every other mixer they went after.

[xLays]

They are not going to scam you if that’s what you are asking. If you are saying if your funds will arrive at binance, so far there is no report saying otherwise. However the news you posted about the hackers that used exch is a bit concerning. The gov might go after it and shut it down soon. Don’t tell me they can’t do it because so far they took down every other mixer they went after.

This is only my opinion, nothing against the mentioned service/exchange. I agree that it won’t scam its users, but the general question here is — is this service safe? For me, it’s not because of the ongoing issue. I wouldn’t literally say it’s unsafe, but I would rather say I don’t recommend using it right now due to the current situation. If there’s an alternative service available, it’s better to use that instead of eXch. We all know that if a service is used for laundering money — even if they are unaware — there’s always a chance their operations will be shut down.