The Exch Centralized Exchange Non KYC has strongly denied the allegations of stolen funding for the historic piracy of Bybit on behalf of the famous Lazare group.
The accusations, which have been widely discussed in the social media and blockchain investigative forums, claim that the exchanges have treated millions of dollars of stolen funds linked to the North Korean piracy collective.
In response to these accusations, Exch published an official statement on February 23, 2025. The exchange described these claims as a baseless and part of a targeted “fud attack”.
“We don’t whiten money for Lazarus / DPRC,” said Exch.
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Bybit undergoes a loss of $ 1.5 billion in cryptographic hacking
Bybit’s hacking has now been confirmed as the largest cryptocurrency flight in history, the attackers flying more than $ 1.4 billion after having compromised the multisig cold portfolio of the exchange.
The scale of this incident has sent shock waves to industry, which raises concerns about security vulnerabilities and risk management practices in major exchanges.
The founder of Binance, Changpeng Zhao, weighed on the situation shortly after the new piracy broke out.
In an article of February 21, 2025 on X (formerly Twitter), Zhao suggested to temporarily stop all withdrawals as a precaution to ensure the integrity of the system.
He commented, “Not an easy to manage situation. Could suggest stopping all withdrawals a little as a standard security precaution. Will provide assistance if necessary. Good luck!”
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Lowering allegations of $ 30 million linked to the Lazare group
Exch refuses to cooperate after being linked to North Korean pirates
– Crypto Luffy (@ cryptoluffy007) February 23, 2025
Exch refuses to cooperate after being linked to North Korean pirates 
The controversy began when the eminent blockchain investigator, Zachxbt, said in a telegram that Exch had treated for 35 million dollars of stolen bybit piracy. He also said that the exchange had wrongly sent 34 ETH (around $ 96,000) to the hot portfolio of another exchange.
Other blockchain analysts and the safety company Slowmist have corroborated these allegations. He said that the exchange had received Ethereum (ETH) from the portfolios associated with the exploit of statements.
Nick Bax, a member of the Hatte of Security Alliance White hate pirates, also estimated that the Exch has managed around 30 million dollars in North Korea on the same day. In addition, part of the stolen ethn was converted into another crypto on the exch platform.
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Key dishes to remember
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Bybit’s hacking has now been confirmed as the largest cryptocurrency flight in history, the attackers flying more than $ 1.4 billion after having compromised the multisig cold portfolio of the exchange.
While Echs has denied any reprehensible act, its recognition that certain stolen funds have seized its platform highlights the challenges that non KYC exchanges face the prevention of illicit transactions.
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