Infamous mixing protocol eXch drops USDT, USDC as US authorities eye its role in Bybit theft

The shaded crypto mixture protocol will exchange with an offshore entity and the restructuring to escape a meticulous examination on the laundering of tens of millions of stolen people.

Centralized crypto mixture protocol exchange revealed in a update On Bitcoin, it plans to move its operations and leave its current structure in Belize while the regulatory examination is looming on its refusal to stop the pirates affiliated to North Korea to whiten millions of people stolen from the exchange of bybit crypto.

The service has announced that it would have “new shareholders and new members of the board of directors”, adding that this decision would help “reduce the risks for our founding team” while ensuring that it can continue to function without “abandoning our values”, without challenging what these values ​​are.

Exch has added that it is “aware that there is an current operation” targeting its service by “certain law enforcement organizations” in order to add the protocol to the Sanctions list of the OFAC and to enter the protocol infrastructure.

“Since this comes mainly from American agencies, we will update our TOS to inform our users in the United States so as not to use our service and warn them of the risks of being prosecuted in their country to use a service like ours.”

exchange

In his attempts to leave the radar, Exch said that he also planned to bring back by July-August the two largest stablecoins by market capitalization: Tether (USDT) and a USD part (USDC) Due to the risk of being on black list. Instead, the disgrace protocol will count on DAI (DaiThe stableco stability of alasmic stability is the protocol.

The mixing service said that it would only take care of dynamic addresses to avoid complications. It also changes its Bitcoin aggregation address to make it more difficult to link transactions to Exch.

Exch is under fire for refusing to work with blockchain detectives trying to help prevent North Korean hackers from whitening nearly $ 1.5 billion stolen in February. According to Bybit data, exch bleached More than $ 94 million in stolen funds and ignored the claims to cut bad players.