Dear users, due to recent events, we inform you that all funds that have a direct connection to the centralized exchanger eXch are now considered criminal. All orders paid for with funds received through this exchanger will be suspended for additional verification of sources of funds and information about exchanges. We strongly recommend refraining from sending funds received through eXch to the addresses of our service.
In February 2024, an attacker exploited a vulnerability in our security structure and managed to steal $26.1 million. The reaction of the crypto community was unambiguous: numerous analytical services, blockchain experts, crypto services and other organizations immediately joined the investigation of the incident, actively assisted in tracking the movement of funds, blocking addresses and preventing further transactions with the stolen assets. But the attacker quickly found a way to bypass the measures taken. He used the centralized exchange eXch. When we asked for help in blocking the stolen funds, eXch took no action.
A year after the FixedFloat hack, on February 21, 2025, the largest hack in the history of the crypto community occurred on the ByBit exchange for $1.5 billion in ETH. The reaction from the crypto community was once again unambiguous: all efforts were directed towards helping track and freeze the stolen funds. It didn’t take long before news emerged from renowned on-chain analyst ZachXBT that the Lazarus Group, a hacker group sponsored by the DPRK, was behind the Bybit hack. It wasn’t difficult for analysts to track the movement of funds, as a result of which it was discovered that the hackers used the eXch service to launder the stolen funds.
When ByBit asked for assistance in stopping the stolen funds, the eXch team refused, stating that they had previously faced "direct attacks" on their service and reputation from ByBit. However, we have not previously resorted to public criticism, but eXch was in no hurry to cooperate and provide assistance to us either. It seems that eXch is simply looking for excuses to refuse to cooperate with the affected services every time in order to continue to assist hackers in laundering the stolen funds.
The crypto community has repeatedly expressed its dissatisfaction with eXch's policy. Thus, the founder of the analytical project SlowMist Yu Jian condemned the service's position, emphasizing that the exchanger is engaged in money laundering. Also, analysts and leading cryptocurrency exchanges have previously raised the issue of eXch's insufficient activity in cooperation with other platforms to combat the laundering of stolen funds.
The centralized exchanger eXch actually provides the ability to exchange any funds, including stolen ones, even if the addresses are already marked as suspicious in explorers. The lack of clear measures to control illegal transactions is perceived as an admission of complicity in the process of money laundering.
In connection with the position of eXch, we are forced to take the following measures. Now all funds received from the eXch service are considered criminal. In accordance with the Terms of Use of FixedFloat 6.4. in case of detection of such funds, we reserve the right to suspend the provision of services and freeze the funds received. This rule comes into force on March 3, 2025.
Earlier, since 2022, Tornado Cash was subject to US sanctions due to accusations of using Tornado Cash by the North Korean hacker group Lazarus Group to launder stolen cryptocurrency. In early 2025, the sanctions were lifted. The main difference between Tornado Cash and eXch is that Tornado Cash is a decentralized contract, which really cannot help stop funds. eXch, like FixedFloat, is a centralized exchanger, and therefore they have the ability to provide assistance if they want. We understand that information about incidents that occur does not always reach all services promptly, and some of them may not have time to respond to reports of stolen funds passing through their platforms. However, eXch has openly and directly stated its unwillingness to help the hacked exchange, which indicates a willingness to continue laundering stolen funds. This position seriously discredits this service in the eyes of the crypto community.
