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Crypto Exchange eXch to Shut Down May 1 Amid $1.4B Bybit Hack, Lazarus Group Links, and DOJ Whistleblower

Cryptocurrency exchange eXch announced it will cease operations on May 1, 2025, following allegations that it was used to launder funds linked to the $1.4 billion Bybit hack. The exchange has been connected to North Korea’s Lazarus Group, which is accused of laundering approximately $35 million from the hack. eXch, a non-KYC platform, acknowledged that a small portion of the stolen funds passed through its system but denied being a crypto mixing service. The decision to shut down came after a majority vote from the management team, influenced by information provided by a verified whistleblower from the U.S. Department of Justice. In response to the situation, eXch also committed 50 BTC to privacy development initiatives. The closure marks the end of operations for the exchange amid ongoing scrutiny over its role in the laundering of stolen cryptocurrency. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io Cryptoknowmics

Corporate Bitcoin Holdings Hit 668K BTC In Q1 2025, Mass Adoption Incoming?

Bitcoin (BTC) institutional adoption is growing as more publicly traded companies add the asset to their balance sheets. Over the last three months, institutions have capitalized on price dips to establish good entry positions for the asset class. Notably, institutional demand is increasing at a fast pace following weeks of decline after prices hit lows not seen in months. Companies Holdings Surge 16% A new Bitwise report shows the Bitcoin held by publicly listed companies soared 16% in Q1 2025. In a recent post on X, it was revealed that the institutional grip on the market has grown over the last three months. The total asset holdings tapped 688,000 BTC at the end of the quarter, marking a whopping 3.2% of the total supply. Institutional investors holding this number spark positive sentiment across the market, especially from retail holders. The demand for these players is a major market mover, leading to price peaks. Last year, the influx of investors after the approval of spot Bitcoin ETFs in the United States drove the assets to new all-time highs. This boost led investors and issuers to launch multiple altcoin ETFs. The total value of these companies’ Bitcoin holdings topped $57 billion, representing a 2% increase over the last three months. Meanwhile, the number of companies reached 79, a 17% change, with 12 new companies holding the asset. New companies joining the pack show a bullish drive from large holdings after watching other firms accumulate the asset. Michael Saylor’s Strategy has remained vital to the influx of new holders. According to the report, Strategy tops the company list with 528,185 BTC, while Marathon Digital and Riot Platforms rank second with 47,531 BTC and 19,223 BTC. CleanSpark and Tesla conclude the top five with 11,869 BTC and 11,509 BTC, respectively. Q2 Off To A Shaky Start For most analysts, last quarter saw growth due to bullish projections for Q4 2024. The outcome of the US elections , coupled with price jumps, drew the attention of institutional players. This year, the asset has recorded a sharp 22% decline from its all-time high of $108k, affecting the wider market. Furthermore, Q2 2025 started with President Trump’s new tariffs causing a stir in US stocks and crypto prices. A drop in the market cap weakened trader sentiments. However, institutional traders and larger holders often enter the markets during price dips. Cryptoknowmics

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