eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20

[LoyceV]

What as was not clear about this announcement made by eXch is that they will 'eXch will officially shutdown its operations ' but also that eXch will "Starting from the date of the merger with a new management team this month" . So, looks like the operation won't shutdown, eXch will still somehow operate under different guidance.

I wasn't sure about the exact meaning of that part, but I guess eXch isn't sure about it yet either. It doesn't make sense to merge with a company, have new management, and then shut down operations a month later.

[Pmalek]

Does anyone know? Can I still use it before May 1st? Will there be any problems?

You can't.

You can see the warning in their website. So  you can't create new orders there until the new management shows up

eXch to stop accepting new orders starting May 1st (announcement)
https://eXch.net

You replied to a question that qidafei didn't ask. He asked if he can use eXch for exchanges until 1 May. He can. The swap service still works and will remain operational for the next 10 or so days until something unforeseen happens or the management changes their mind. He will not be able to swap coins after 1 May and until the new management takes over.

Once that happens, eXch's current history and track record come to a stop. The new team will have to build their trust again from zero. At least, that's how I see it. It will be important to go through the new T&Cs and eventually a new Privacy Policy in detail.

[FatFork]

Speculating won't do much good now - we'll just have to wait patiently and see what unfolds for eXch down the road.

I appreciate the exch team for their great service over the years.  I've never had a problem with them and think we need more services like this one.  However, I understand why they had to make this change, even if I wish things were different.

[Trêvoid]

I fully support and agree with the statement made by eXch regarding its decision to cease operations effective May 1st, 2025. The eXch team has consistently demonstrated a commitment to privacy, transparency, and ethical conduct throughout its existence. Their project was never about financial gain but about proving that privacy-focused alternatives can exist in a space dominated by centralized, often opaque, and sometimes exploitative platforms.

eXch’s decision to shut down in the face of overwhelming legal and intelligence pressure is both prudent and responsible. The accusations of facilitating money laundering and terrorism are based on misunderstandings of their mission. While privacy tools can be misused, eXch has always rejected any association with illicit activities and operated with integrity.

    Privacy is not a crime. The right to transact privately is fundamental, and projects like eXch have played a crucial role in defending this principle.

I am honored to have worked alongside eXch and to have supported this project at every stage. As an affiliate exchange (litexero), I will continue to uphold the values of privacy, freedom, and innovation that eXch championed. I stand ready to support their partners and the broader community in building new solutions that protect user rights and foster a more open financial system.

I wish the eXch team success in their future endeavors and reaffirm my commitment to supporting privacy-focused initiatives everywhere.

Privacy is not a crime—it's a right.

[NeuroticFish]

I fully support and agree with the statement made by eXch regarding its decision to cease operations effective May 1st, 2025. The eXch team has consistently demonstrated a commitment to privacy, transparency, and ethical conduct throughout its existence. Their project was never about financial gain but about proving that privacy-focused alternatives can exist in a space dominated by centralized, often opaque, and sometimes exploitative platforms.

eXch’s decision to shut down in the face of overwhelming legal and intelligence pressure is both prudent and responsible. The accusations of facilitating money laundering and terrorism are based on misunderstandings of their mission. While privacy tools can be misused, eXch has always rejected any association with illicit activities and operated with integrity.

Nicely said, even better than I could have been saying it.

I've found out only today about the sad news and I had to double check it first.
Yes, they were incredibly ethical towards their customers and towards the spirit behind Bitcoin (and Monero!)
Yes, the current move looks like a very responsible one.

Still, it saddens me to see them go. It saddens me to see "the others" win. It saddens me that this kind of companies are made a target because they don't surrender.

Yes, privacy is a right. But for the governments it works like: they can keep their shit private, but if you want to keep private whatever you consider so, you are targeted as a criminal. Is immensely unfair, but it happens on a large scale. 

Farewell eXch, and best of luck in all of your future initiatives.

It was a pleasure to advertise your business.

[Trêvoid]

I fully support and agree with the statement made by eXch regarding its decision to cease operations effective May 1st, 2025. The eXch team has consistently demonstrated a commitment to privacy, transparency, and ethical conduct throughout its existence. Their project was never about financial gain but about proving that privacy-focused alternatives can exist in a space dominated by centralized, often opaque, and sometimes exploitative platforms.

eXch’s decision to shut down in the face of overwhelming legal and intelligence pressure is both prudent and responsible. The accusations of facilitating money laundering and terrorism are based on misunderstandings of their mission. While privacy tools can be misused, eXch has always rejected any association with illicit activities and operated with integrity.

Nicely said, even better than I could have been saying it.

I've found out only today about the sad news and I had to double check it first.
Yes, they were incredibly ethical towards their customers and towards the spirit behind Bitcoin (and Monero!)
Yes, the current move looks like a very responsible one.

Still, it saddens me to see them go. It saddens me to see "the others" win. It saddens me that this kind of companies are made a target because they don't surrender.

Yes, privacy is a right. But for the governments it works like: they can keep their shit private, but if you want to keep private whatever you consider so, you are targeted as a criminal. Is immensely unfair, but it happens on a large scale. 

Farewell eXch, and best of luck in all of your future initiatives.

It was a pleasure to advertise your business.

Your point is sadly accurate: state actors often protect their own secrets, while individuals seeking privacy are unfairly targeted. This imbalance is a critical challenge for the crypto and privacy communities going forward.

[NotATether]

Your point is sadly accurate: state actors often protect their own secrets, while individuals seeking privacy are unfairly targeted. This imbalance is a critical challenge for the crypto and privacy communities going forward.

Money laundering is only OK if the CIA does it. And only if they keep it private.

/s of course

Even though I did not read the announcement in such way, sure, it could be the case that some variation of the same (or similar) service might continue to exist, and surely there may well be some advantage for them to potentially figure out ways to break into smaller services - and surely they have some value in the name brand that they have built, so even if they tried to disconnect from their past name, there would likely be elements of trust foe anyone to move to some other service and to not be sure if the newer operation retains similar levels of integrity.

As you've just read, the governments around the world are trying to seize the eXch service. So why would anyone want to step in and try to manage the project themselves, when realistically the only thing that's on the horizon in the short-term is legal repercussions.

[Synchronice]

Maybe it's better if you stay in this business? Implement KYC

That would mean betraying everything they stand for:

Originally, we were just a team of privacy enthusiasts
~
Our project has demonstrated that an instant exchange done properly can be more effective than any centralized mixer in terms of privacy
Given this, we are announcing a 50 BTC open-source fund to support any FOSS projects aiming to enhance the availability of privacy solutions. We hope we can still make a difference. Here are examples of the projects we will support:
- Bitcoin wallets and protocols aiming to preserve user privacy
There will be other projects that will hopefully take our place as the industry leader in privacy-oriented centralized exchanges, and we wish them success.
Privacy is not a crime.

It doesn't mean betraying, it's just the fact that they have no other choice but it's still not betraying. There are lots of KYC exchanges but not all of them are bad, yet, some of them are good and some of them are bad. What will happen if eXch quits? Nothing, they'll be gone forever but if they stay, they can be a very good and reliable exchange.
I'm not maximalist in cases like this one, so that's why my opinion might be different but I completely got your point and also the point of others who think like you in this case.

Maybe it's better if you stay in this business? Implement KYC, that's okay, just be fair with KYC. Some exchanges ask for KYC documents to find an excuse and not send money to customers. I think we all believe that you won't do that and you'll be very fair with KYC requirements. So, please, stay in the business and implement KYC, you'll still be far better than 99% of exchanges.

That is a terrible idea.

But that still doesn't mean that it's a bad idea. I mean, we all have a moment when we want to use an exchange. To be honest, I don't feel comfortable with BISQ like platforms despite the fact that it's admired, I see some flaws that are very risky to my mind but I won't talk about it right now. I think that lots of people want a stable exchange that doesn't lie. I've used multiple instant exchanges and I finally found one (besides Exch) that is regulated but yet, doesn't ask for KYC out of thin air.

I will also add that NodeJs, just like js, has several cryptography failures, which is very complicated for a cryptocurrency wallet project.

There is a big list of vulnerabilities here and how to mitigate them
https://www.cobalt.io/blog/node-js-vulnerabilities

I think Nodejs is a good language and tool that gets the job done. But not fit for the standards required by eXch.

So, NodeJS is only not recommended to use in crypto, right? I'm asking this because I want to become a web developer and I prefer to totally focus on Javascript and NodeJS is the best backend JS framework.
By the way, thanks to NotATether and you for this explanation.

[bitmover]

I will also add that NodeJs, just like js, has several cryptography failures, which is very complicated for a cryptocurrency wallet project.

There is a big list of vulnerabilities here and how to mitigate them
https://www.cobalt.io/blog/node-js-vulnerabilities

I think Nodejs is a good language and tool that gets the job done. But not fit for the standards required by eXch.

So, NodeJS is only not recommended to use in crypto, right? I'm asking this because I want to become a web developer and I prefer to totally focus on Javascript and NodeJS is the best backend JS framework.
By the way, thanks to NotATether and you for this explanation.

I am not a specialist, I am a amateur web developer (just as a hobby).

However, as far as I know, NodeJS isn't the most robust implementation for a backend. You can start with it, as it is easy to learn (JS, like front end apps) but over time you will probably move to other languages.

[joker_josue]

As you've just read, the governments around the world are trying to seize the eXch service. So why would anyone want to step in and try to manage the project themselves, when realistically the only thing that's on the horizon in the short-term is legal repercussions.

The new management just needs to make changes to the way it does some things to overcome these "legal complications". Or the new board simply thinks it can continue down the same path and the previous board thinks it's not worth the risk.

It may even happen that some members of the initial team have already been identified by the authorities and begin to create this pressure. As for the new board, nobody knows them yet.

In fact, there are many open questions. Although the statement was clear, some points remained open regarding what will happen in the future.

[mmgen-py]

My condolences, eXch team, on the demise of your exchange, and wishing you all the best for whatever projects you choose to pursue in the future.

Your recent experience demonstrates once again that centralized crypto entities will always be attacked by the state, and that DeFi is the way forward.

And a thank you for your mention of MMGen Wallet and its commitment to privacy. It led to a spike in page hits and downloads on the mmgen.org site and Github project page, hopefully onboarding some new users.

[Cricktor]

Maybe @gmaxwell could re-evaluate his negative trust to mmgen-py? I mention this here as I assume eXch wouldn't have supported and donated to MMGen wallet without careful checking the project and deeming it a worthy privacy-friendly software.

[mmgen-py]

Maybe @gmaxwell could re-evaluate his negative trust to mmgen-py? I mention this here as I assume eXch wouldn't have supported and donated to MMGen wallet without careful checking the project and deeming it a worthy privacy-friendly software.

Thank you.

UPDATE: And thanks for the heads up on the 2 BTC donation! I discovered it only after reading your post and syncing my node.

[apogio]

Thank you.

UPDATE: And thanks for the heads up on the 2 BTC donation! I discovered it only after reading your post and syncing my node.

I respect gmaxwell a lot, but I have to admit I have tried your software and checked the code and I loved it. I don't have a definitive feedback yet, but it looks good. I am just letting you know that I plan to check on your software a lot more and let you know my final thoughts.

[mmgen-py]

Thank you, eXch team, for your 2 BTC donation to the MMGen Project!

You’re the best!

[mmgen-py]

Thank you.

UPDATE: And thanks for the heads up on the 2 BTC donation! I discovered it only after reading your post and syncing my node.

I respect gmaxwell a lot, but I have to admit I have tried your software and checked the code and I loved it. I don't have a definitive feedback yet, but it looks good. I am just letting you know that I plan to check on your software a lot more and let you know my final thoughts.

Feel free to respond on Github, Reddit or this forum if you have any issues or questions!

[bchannel]

Thank you, eXch team, for your 2 BTC donation to the MMGen Project!

You’re the best!

Thanks to the eXch as well as thanks to you for your contribution to mmgen wallet, 12 years of colossal work have been rewarded, I am very happy for you.

[bitmover]

Thank you, eXch team, for your 2 BTC donation to the MMGen Project!

You’re the best!

One more reason  why eXch will be missed.

One of the best services in the cryptocurrency ecosystem.
Trust, cheap , fast and really support privacy. Great donations to privacy focused project.

I am proud  to have e participated in campaigns of such good service and used it a lot when active.

[bias]

What sad news for all of us, in fact for all the crypto community. Such projects should have been at the center of the publicity that offers and supports one of our greatest rights (but the system tries to make us forget it), privacy. Instead, the system hunts them down as if they were the worst criminals, what a joke. It's a shame that we live in such times, and I truly wish some way is found and your action continues.🙏💪

[Cricktor]

I discovered it only after reading your post and syncing my node.

I tried to picture it in my mind and it gave me a good giggle. Keep up the good work with your wallet!

~~~

Can't add much more to your words, man! I remain optimistic in these crazy times. My hopes are that the new management team hasn't joined for nothing. We will see what emerges in the future.