eXch Remains Active Despite Shutdown: How the Bybit Hack-linked Exchange Continues to Enable Laundering of CSAM Funds
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eXch Remains Active Despite Shutdown: How the Bybit Hack-linked Exchange Continues to Enable Laundering of CSAM Funds
On April 30, 2025, one day before cryptocurrency exchange eXchâs announced shutdown (May 1, 2025), the platform removed all known public-facing infrastructure â including four clearnet and dark web domains. TRM Labs has linked the exchange to money laundering activity for Lazarus Groupâs Bybit hack and identified a long-term laundering relationship with child sexual abuse material (CSAM) threat actors.
Key takeaways
- Despite eXchâs announced shutdown, eXch continues to offer application programming interface (API) access to its business partners and TRM has observed continued on-chain activity â including laundering behavior consistent with its mixed-pool infrastructure.
- TRM has found that eXch is one of the primary destinations for CSAM funds. We have identified that eXch has been directly exposed to more than USD 300,000 in CSAM-related funds. However, we expect this figure to increase as we continue …
On April 30, 2025, one day before cryptocurrency exchange eXchâs announced shutdown (May 1, 2025), the platform removed all known public-facing infrastructure â including four clearnet and dark web domains. TRM Labs has linked the exchange to money laundering activity for Lazarus Groupâs Bybit hack and identified a long-term laundering relationship with child sexual abuse material (CSAM) threat actors.
Key takeaways
- Despite eXchâs announced shutdown, eXch continues to offer application programming interface (API) access to its business partners and TRM has observed continued on-chain activity â including laundering behavior consistent with its mixed-pool infrastructure.
- TRM has found that eXch is one of the primary destinations for CSAM funds. We have identified that eXch has been directly exposed to more than USD 300,000 in CSAM-related funds. However, we expect this figure to increase as we continue …