According to recent reports, the notorious hacking group known as Lazarus Group has allegedly used a popular cryptocurrency exchange, eXch, to launder a staggering $35 million. This shocking revelation comes from two individuals, ZachXBT and Nick Bax, who have been closely monitoring the onchain activities of the exchange.

ZachXBT, a well-known onchain sleuth, and Nick Bax, a member of a white hat hacker group, have both independently uncovered evidence that points to eXch’s involvement in the laundering of funds stolen from the popular cryptocurrency exchange, Bybit. The hackers behind the Bybit attack, believed to be the Lazarus Group, made off with a massive $35 million in stolen funds.

The evidence gathered by ZachXBT and Nick Bax suggests that the hackers used eXch to convert the stolen funds into other cryptocurrencies, making it difficult to trace the origin of the funds. This is a common tactic used by cybercriminals to cover their tracks and avoid detection.

The news of eXch’s alleged involvement in the laundering of stolen funds has sent shockwaves through the cryptocurrency community. Many are questioning the security measures and protocols in place at the exchange, as well as the overall safety of the cryptocurrency industry.

This is not the first time that the Lazarus Group has been linked to cryptocurrency-related attacks. The group has been known to target exchanges and other cryptocurrency platforms in the past, making off with millions of dollars in stolen funds.

As the investigation into the Bybit hack and the alleged involvement of eXch continues, it serves as a stark reminder of the importance of strong security measures in the cryptocurrency industry. With the rise in popularity and value of cryptocurrencies, it is crucial for exchanges and other platforms to prioritize security and protect their users’ funds from cybercriminals.