Accused of washing the encryption to the infer

The exchange of cryptocurrency that focuses on privacy confirmed that it will formally end all the operations from May 1, after the escalation of the international scrutiny and the escalating allegations of its role in laundering funds associated with BYBIT in February.

According to the team, this step comes after the internal consensus between its leadership “to stop and retreat” instead of continuing in light of what he described as an enemy operating environment.

the close The appearance of what the Exch claims is a “active in the Atlantic” targeting the platform with the intention of dismantling its infrastructure and following the criminal charges. This included accusations of enabling and washing terrorism financing for nearly 35 million dollars in encryption, allegedly following the Lazarus Group in North Korea.

Wind exchange

While the Excr team acknowledged that a small part of illegal money may have passed through the platform, they strongly denied any intentional facilitation of criminal activity.

Excr also refused to describe its services as a “mixer”, despite the comparisons conducted by analysts on the series. The founders of the platform criticized the broader scene of encoding, with the aim of what they called “illogical policies” of exchanges that depend on the front -to -one applications programming facades on a third party, which they argue that they can be easily overcome and provide a few real protection.

With the Stock Exchange’s willingness to finish, it announced the establishment of an open source fund of 50 BTC to support the financial and conservative financial tools across various ecosystems, including bitcoin, ethereum and thorns. The partners will keep the limited access to the application programming facades until the transfer of control to a new management group is completed.

“Certainly the goals that we did not take in her mind are to enable illegal activities such as money laundering or terrorism, as we are accused now. We have no motive at all to operate a project where we are seen as criminals.

This does not make sense for us. Originally, we were just a team of privacy lovers with the main areas of attention completely far from the encrypted currency, where we saw unfair events at all. This project was an attempt to restore balance in this industry. “

Beit penetration

Beit Hack, which has drained more than $ 1.5 billion of digital assets including STTH and METH, is among the largest thefts in the date of encryption. Unchakin Zakkabtti and Nick Pax security investigators previously claimed that Excrent had made laundering money stolen in BYBIT by the Lazarus Group in North Korea.

Additional claims from Blockchain analysts and security company Slomist supports the accusation, which was martyred by the transfer of ETHER from the portfolio associated with hacking.

Despite the severe blow, bybit can restore momentum on the market. As of April 9, the Block Scols Analysis Company I mentioned The market share on the stock market increased from a decrease of 4 % after the breach to about 7 %. This recovery reflected a strong return in immediate trading volume and general exchange activity, indicating that the platform is recovering more quickly than many expected at first.