eXch
Last changed 2026-10-27 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 2 → 0. The page establishes that the subject is itself a scheme, so the score is 0. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -65 |
| Sum | 0 |
- The page establishes that the subject is itself a scheme, so the score is 0.
Score: 0/100 (kept between 0 and 100)
How scoring works →Summary
eXch (exch.cx) was a no-KYC instant cryptocurrency swap service operating from 2014 until its forced shutdown in May 2025. Registered in Belize under the name Private Project Facilitators LTD, the platform processed an estimated $1.9 billion in total volume, deliberately advertising its absence of anti-money laundering controls on criminal underground forums. German federal law enforcement seized approximately $38 million in cryptocurrency assets and 8 terabytes of data from the platform in April 2025, following evidence linking eXch to laundering roughly $200 million of funds stolen in the $1.46 billion Bybit hack carried out by North Korea's Lazarus Group.
Connected Entities
10 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Monero→mentioned with→Bitcoin(60%)
- Monero→mentioned with→ZachXBT(65%)
- Litecoin→mentioned with→Bitcoin(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- Litecoin→mentioned with→Monero(65%)
- Litecoin→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Bitcoin(65%)
- ZachXBT→mentioned with→Bybit(70%)
- eXch→mentioned with→Bybit(70%)
- + 19 more
Connected Through
9 shared actors · 622 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- ♦Bitcointoken
- □Moneroorganization
Timeline(13 events)
2014
eXch launched as a no-KYC instant cryptocurrency swap service, registered in Belize as Private Project Facilitators LTD.
November 2023
eXch publicly posted and rejected subpoenas from New York State and other agencies, publicly boasting of zero compliance with law enforcement since launch.
February 2024
FixedFloat exchange hacked for $26 million; eXch allegedly processed laundered proceeds and refused IRS cooperation on the investigation.
15 January 2025
eXch issued an open demand letter threatening Elliptic and other blockchain analytics firms over high-risk designations of the platform.
21 February 2025
Bybit exchange hacked by Lazarus Group (North Korea) for approximately $1.46-1.5 billion in Ethereum — the largest crypto theft in history.
22 February 2025
On-chain analyst ZachXBT alleged eXch laundered approximately $35 million of Bybit hack proceeds within hours of the theft; eXch's ETH reserves were observed spiking.
31 March 2025
eXch announced a planned merger and infrastructure relocation, citing alleged attacks on its systems.
17 April 2025
eXch announced it would shut down on May 1, 2025, citing awareness of an 'active transatlantic operation' targeting the platform and potential terrorism financing charges.
30 April 2025
Germany's BKA and Frankfurt prosecutors executed the eXch takedown one day before the announced shutdown, seizing all server infrastructure and removing clearnet and dark web domains.
May 2025
eXch's announced shutdown date; former management transitioned to consulting roles as nominal new leadership took over.
Decision Log
- slot 461964541 · hash 9THX3zavHYT2QzLuZm5xvxs13k9WCicx8VvWS8P5isnL
- slot 420667274 · hash Ba1P99415Z7wZgJZEa7GdEw65FfRgsVfHbRQJKN8San
This investigation is cryptographically anchored to the Solana blockchain (2 decisions).
model: claude-sonnet
generated: 5/4/2026, 4:05:01 PM
last updated: 10/27/2026, 6:04:46 AM
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