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

[bitmover]

Looks like 90% of coins hacked from bybit are already untraceable


 https://www.lazarusbounty.com/

Unfortunately,  eXch was seized because some coins from this hack were exchanged there. I wonder how many other services are also exchanging those coins now..

[apogio]

Unfortunately,  eXch was seized because some coins from this hack were exchanged there. I wonder how many other services are also exchanging those coins now..

It shouldn't take long for this money to go back into circulation. That's how economies work.
And this also proves their hypocrisy, condemning the money that go from lazarus group to eXch, but blessing the money that go from lazarus group to other centralized exchanges 

[joker_josue]

Unfortunately,  eXch was seized because some coins from this hack were exchanged there. I wonder how many other services are also exchanging those coins now..

It shouldn't take long for this money to go back into circulation. That's how economies work.
And this also proves their hypocrisy, condemning the money that go from lazarus group to eXch, but blessing the money that go from lazarus group to other centralized exchanges 

They were probably already annoyed with eXch. This was the opportunity they had to act, because they hadn't been able to before.

Furthermore, this proves that it is not decentralized exchanges or mixers that make it impossible to "launder money," as they claim.

[examplens]

Unfortunately,  eXch was seized because some coins from this hack were exchanged there. I wonder how many other services are also exchanging those coins now..

It shouldn't take long for this money to go back into circulation. That's how economies work.
And this also proves their hypocrisy, condemning the money that go from lazarus group to eXch, but blessing the money that go from lazarus group to other centralized exchanges 

They were probably already annoyed with eXch. This was the opportunity they had to act, because they hadn't been able to before.

Furthermore, this proves that it is not decentralized exchanges or mixers that make it impossible to "launder money," as they claim.

That was the first thing that came to my mind when I saw this case. https://bitcointalk.org/index.php?topic=5563782.0
user @Skjadoon swapped XMR to ETH on an exchange and received coins marked as 100% stolen. There is no direct confirmation of the origin of the 'dirty' coins, but I would not be surprised if some of the addresses marked in the Bybit hack were recognized.
The final conclusion is that it is impossible to blame anyone in this case, and the end user bears the greatest damage.

[LoyceV]

The final conclusion is that it is impossible to blame anyone in this case, and the end user bears the greatest damage.

This is what happens when some services treat fungible coins as non-fungible. Governments wouldn't allow this to happen to their fiat money, as it destroys trust in the currency. Which is exactly the reason they apply it to crypto.

[Forsyth Jones]

...

...

They were probably already annoyed with eXch. This was the opportunity they had to act, because they hadn't been able to before.

Furthermore, this proves that it is not decentralized exchanges or mixers that make it impossible to "launder money," as they claim.

Yes, the ones who lose out with these absurd and desperate measures to punish legitimate services at any cost are users like us, who may receive marked coins originating from some kind of theft. As if the end of eXch wasn't enough, now we may face problems with the authorities if we receive coins from a legalized exchange that performs all the necessary KYC checks.

This shows that the coins marked by this theft are already passing through centralized exchanges, and KYC is proving useless in these cases. Only legitimate users have problems with KYC and marked coins.

[Pmalek]

Unfortunately,  eXch was seized because some coins from this hack were exchanged there.

eXch was seized because the governments and regulators (the natural enemies of bitcoin, anonymity, and the people) wanted an excuse to do it. The Bybit hack was like a blessing is disguise for them. At fault or not, they had what they needed to go after eXch and take down an operation they can't control and whose owners don't want to listen and can't be intimidated by letters and emails from three-letter agencies.   

[examplens]

Unfortunately,  eXch was seized because some coins from this hack were exchanged there.

eXch was seized because the governments and regulators (the natural enemies of bitcoin, anonymity, and the people) wanted an excuse to do it. The Bybit hack was like a blessing is disguise for them. At fault or not, they had what they needed to go after eXch and take down an operation they can't control and whose owners don't want to listen and can't be intimidated by letters and emails from three-letter agencies.   

eXch has been targeted for a long time, just waiting for the right excuse. The Bybit hack turned out to be ideal because the whole crypto world knew about it. Then I followed the discussions on X, where the largest number of people directly blamed eXch for the hack, one would think that they are the famous Lazarus.
The most obvious proof of how badly AML crypto regulation is implemented in practice, and that the largest number of users have already accepted a low level of anonymity.

[logfiles]

eXch was seized because the governments and regulators (the natural enemies of bitcoin, anonymity, and the people) wanted an excuse to do it. The Bybit hack was like a blessing is disguise for them. At fault or not, they had what they needed to go after eXch and take down an operation they can't control and whose owners don't want to listen and can't be intimidated by letters and emails from three-letter agencies.   

The way most of those so-called regulated centralized exchanges ganged up against eXch painted a clear picture of the kind of war we are in regarding privacy. They also obviously felt threatened about the existence and competition from eXch and therefore had to do whatever they could to have them eliminated.

[hugeblack]

The way most of those so-called regulated centralized exchanges ganged up against eXch painted a clear picture of the kind of war we are in regarding privacy. They also obviously felt threatened about the existence and competition from eXch and therefore had to do whatever they could to have them eliminated.

I don't think eXch had enough liquidity to compete with "regulated centralized exchanges," but these platforms strive to appease governments to avoid scrutiny and investigations into their activities. I'm sure many of these services suffer from numerous problems, so they avoid any government oversight.

[Pmalek]

I don't think eXch had enough liquidity to compete with "regulated centralized exchanges," but these platforms strive to appease governments to avoid scrutiny and investigations into their activities.

They took from them a piece of the pie. Even if that piece wasn't that big, they would rather not share it and have it all for themselves. Malicious people or services aren't happy to just have a majority. They want full control. They are only satisfied seeing their rivals starve and be destroyed. Even if eXch only had 10 regular users, someone like Bybit wants those 10 individuals trading at their site and earning them profits.

[Cricktor]

I feel like any service that doesn't do KYC and AML stuff properly and consistantly (like eXch did) is an enemy for all those regulation compliant services with KYC/AML that want to avoid to clash with regulation and authorities. Compliance costs money and is a nasty burden, you naturally oppose those who try to avoid it (more or less successfully). Does it prevent crime? I don't think so, because criminals find their ways to circumvent it. it's more an excuse and a fog candle for the public to not look deeper and/or have pathways for surveillance and control of the public's crypto activities.

Bybit's blaming of eXch in the aftermath of their hack was and is still a lame disguise of their own screw-up and they paid and likely still pay a lot of loud sockpuppets to sing their songs against eXch or whoever tries to replace eXch. Nice opportunity for authorities to finally strike against eXch because at that time such an activism gave good news and everybody (stupid enough) had some reason to cheer in.

Also perfect opportunity for all those (a)social media loudmouths to play their roles and playbooks. Too many people became unfortunately stupid enough to listen to such influencer morons and self-proclaimed "crypto experts". The bar got really low and I don't think it will rise any soon, rather the contrary.

[logfiles]

I don't think eXch had enough liquidity to compete with "regulated centralized exchanges," but these platforms strive to appease governments to avoid scrutiny and investigations into their activities. I'm sure many of these services suffer from numerous problems, so they avoid any government oversight.

If you watch how eXch had grown over the years from the time they had first launched ( I personally looked through the archives), you will agree with me that their volumes had gone astronomical, let alone the profits. I know most of the exchanges are also making some huge profits, but how many would offer donations towards open source projects around the ecosystem?

[LoyceV]

I know most of the exchanges are also making some huge profits, but how many would offer donations towards open source projects around the ecosystem?

I've only seen one mixer back in the days that said they don't need to make profit, and wanted to donate it all. I forgot the name and I think it closed years ago.