eXch to shut down

[Alone055]

It's sad to hear this but it had to happen sooner or later because we know how central authorities feel or what are their stance about projects promoting anonymity and privacy or being decentralized, not asking their customers for their personal information and then passing it on to them so that they can do whatever they want with it.

As @Freemind said, they don't want us to have freedom, especially in the financial sector. They can't bear seeing us being anonymous with our trades or transactions that we make because they want to know what we are doing, where our money is going, and where it's coming from so that they can blackmail us whenever they want or even confiscate our funds at will.

eXch was a great service for the crypto space, it helped people make trades without the need of going through KYC and revealing their identity, and they couldn't digest this.

[Fivestar4everMVP]

Yeah, i read it on bitcointalk. What more can i say, it is so sad, eXch is a wonderful service, what they stand for is exactly what we need in the community. However, i am a sure a lot of us knew the authorities will be serious in going after them and prosecuting those behind the service, they had no choice but to take this hard decision, and there we go, we lose another great privacy-oriented service.

Really unfortunate to be honest, I've never used the services of eXch before but I do have a friend who was constantly using the platform, I feel bad to come to the knowledge that the platform is shutting down under this type of circumstances, it's not new actually, atleast, many other wonderful services in the past have shutdown due to this same reasons, but then, I like the management behind eXch for their boldness in knowing what is right to do and taking the bold step to do it, many other services in the past waited until the authorities came after them and they ended up shutting down abruptly in a way that even some of their customers lost money, but the team behind eXch choose to be different, I commend them for this step they took and wish them good success in their next project.

[Wiwo]

Yeah, i read it on bitcointalk. What more can i say, it is so sad, eXch is a wonderful service, what they stand for is exactly what we need in the community. However, i am a sure a lot of us knew the authorities will be serious in going after them and prosecuting those behind the service, they had no choice but to take this hard decision, and there we go, we lose another great privacy-oriented service.

Really unfortunate to be honest, I've never used the services of eXch before but I do have a friend who was constantly using the platform, I feel bad to come to the knowledge that the platform is shutting down under this type of circumstances, it's not new actually, atleast, many other wonderful services in the past have shutdown due to this same reasons, but then, I like the management behind eXch for their boldness in knowing what is right to do and taking the bold step to do it, many other services in the past waited until the authorities came after them and they ended up shutting down abruptly in a way that even some of their customers lost money, but the team behind eXch choose to be different, I commend them for this step they took and wish them good success in their next project.

Such a sad end for eXch because the reality of their involvement in the hack coins dragged them into this whole mess and they were not prepared for this, since if they were, they could have not allowed such large inflows of funds from an already dented addresses since of allowed eventually will bring them into trouble.

[Baofeng]

Yeah, i read it on bitcointalk. What more can i say, it is so sad, eXch is a wonderful service, what they stand for is exactly what we need in the community. However, i am a sure a lot of us knew the authorities will be serious in going after them and prosecuting those behind the service, they had no choice but to take this hard decision, and there we go, we lose another great privacy-oriented service.

Really unfortunate to be honest, I've never used the services of eXch before but I do have a friend who was constantly using the platform, I feel bad to come to the knowledge that the platform is shutting down under this type of circumstances, it's not new actually, atleast, many other wonderful services in the past have shutdown due to this same reasons, but then, I like the management behind eXch for their boldness in knowing what is right to do and taking the bold step to do it, many other services in the past waited until the authorities came after them and they ended up shutting down abruptly in a way that even some of their customers lost money, but the team behind eXch choose to be different, I commend them for this step they took and wish them good success in their next project.

Such a sad end for eXch because the reality of their involvement in the hack coins dragged them into this whole mess and they were not prepared for this, since if they were, they could have not allowed such large inflows of funds from an already dented addresses since of allowed eventually will bring them into trouble.

I still remember one of the earliest Mixer as well in the bitcointalk that do shutdown itself with a lengthy explanation. And so when I so this post, it brings me back memories.

Anyways, it's just the nature of their business, maybe they will comeback for all we know and learn from their mistakes. But still though, it's a dangerous world out there and every services could be in trouble in an instant.

[TomPluz]

Here is another one that bites the dust all because the people eXch could not afford the prospect of a long and uncertain fight on those in power and maybe unlike Binance this outfit does not have the resources to pay possible penalty and they could not bear the possibility of incarceration of any of them. So the best option on the table is just to let go...say goodbye to the public. Let's hope there will be more similar entities that will sprout soon as this loss is not actually good for the sake of the cryptocurrency industry and the fight for privacy.

[Bobcrypto]

While it is very frustrating to see a proejct of this calibre shut down, it looks like it was inevitable after the Bybit hack occured a few months ago. So you will need to search for alternatives.

In addition, let's not forget Bybit used to discriminate coin from eXch (which affect eXch customer) before they ask for eXch help. As for alternative that have optional/no KYC, people could try aggregated list on https://kycnot.me/ and https://orangefren.com/.

According to what I read, they wanted the transaction fee used by Lazarus group. I do not think it can be of any significant amount if compared to the hack.

Also eXch said only small amount did Lazarus group transact on the exchange and not the $35 million dollar that investigators claimed.

In my opinion, any direct dealing with hackers by a non KYC exchange is risky, and they should have known the implications of exchanging stolen funds which they knew it could be traced by investigators and the Bybit exchange team itself.
Lazarus hackers are on the news about their Bybit hacks, and it was very obvious that the stolen funds were being monitored. I think that eXch exchange took unnecessary risk by doing business with hackers if it is actually this information was true.

[Charles-Tim]

In my opinion, any direct dealing with hackers by a non KYC exchange is risky, and they should have known the implications of exchanging stolen funds which they knew it could be traced by investigators and the Bybit exchange team itself.
Lazarus hackers are on the news about their Bybit hacks, and it was very obvious that the stolen funds were being monitored. I think that eXch exchange took unnecessary risk by doing business with hackers if it is actually this information was true.

I agree with you about this. I do not know how good the tracking system of these exchanges is. Coins coming from Lazarus group in relation to Bybit hack is too loud and such money should have been seized instead. This would have given eXch a good reputation.

[Faisal2202]

they obviously used the hack on bybit to finally do what they all wanted to do back then which is shut down many platforms as much as they could and now they were given a reason to do that the community knew this would happen and we are right that they are being more strict and there could be unjustifiably shutting down of many platforms

Its really shocking because the exchange was smooth and the team was perfect, and as of now, when I read their last post, I mean 50 BTC, that's insane, they have big hearts. I wonder if Satoshi has to do something with this project, haha BTW, I don't think the authorities forced them, as you sound. They made it clear they don't want to harm the innocent people of forum, which is really amazing.

I mean, many platforms have been seized before, and people got their money stuck forever, only this time, people won't lose money, I guess. I wonder what the next management will bring. Best of luck to them, and I hope these illicit actors will stop someday using a brilliant technology for bad purposes.

[MUGNIA]

It is very unfortunate that eXch will close its service, even though I already know this announcement from Bitcointalk but still can't forget this service.

Because now every time I pay from my usual mixer I immediately exchange at eXch and now they will be closed in early May this is really sad.

Maybe I will look for other alternatives instead of eXch.

There will definitely be a solution in the future, it is really unfortunate that this exchange has closed, even though many users feel comfortable using it, without KYC they can already make transactions, is this KYC problem what made them close?

[rdluffy]

There will definitely be a solution in the future, it is really unfortunate that this exchange has closed, even though many users feel comfortable using it, without KYC they can already make transactions, is this KYC problem what made them close?

In a nutshell, and according to themselves:

Recently, we received confirmation of information we had previously, thanks to some friends we have even in the state intelligence sector, that our project is the subject of an active transatlantic operation aimed at forcibly shutting our project down and prosecuting us for "money laundering and terrorism."

And this was greatly aggravated by the Bybit hack a few weeks ago

[Aanuoluwatofunmi]

I was not happy when i heard of this and it makes me remember that of mixers when it was announced that they should no longer be allowed to operate on the other forum before they got peace to stay here, am not that comfortable with anything that has to do with allegation and because the way government are taking down on these sites are somewhat suspicious and at the same time threatening to us in cryptocurrency, because the victimization is not getting too much, that an exchange like this gets nuked by the same government for unreasonable reason they cant establish the fact.

[salad daging]

There will definitely be a solution in the future, it is really unfortunate that this exchange has closed, even though many users feel comfortable using it, without KYC they can already make transactions, is this KYC problem what made them close?

In a nutshell, and according to themselves:

Recently, we received confirmation of information we had previously, thanks to some friends we have even in the state intelligence sector, that our project is the subject of an active transatlantic operation aimed at forcibly shutting our project down and prosecuting us for "money laundering and terrorism."

And this was greatly aggravated by the Bybit hack a few weeks ago

Suspect that Bybit may continue to report this exchange for closure, but we don't know what kind of pressure eXch is receiving.
Anyway, this is sad news, because eXch is the easiest platform but registration.

[Trongduy]

I was not happy when i heard of this and it makes me remember that of mixers when it was announced that they should no longer be allowed to operate on the other forum before they got peace to stay here, am not that comfortable with anything that has to do with allegation and because the way government are taking down on these sites are somewhat suspicious and at the same time threatening to us in cryptocurrency, because the victimization is not getting too much, that an exchange like this gets nuked by the same government for unreasonable reason they cant establish the fact.

I only knew about eXch when they refused to process the hacker's funds during the Bybit event. It's quite something how straightforward their response was, and they certainly don't forget old grudges! I'm not sure if that's why they had to suddenly cease operations though, haha.

A centralized exchange having to shut down means investors will lose a place where they could easily trade without jumping through too many identity verification hoops. This will be a loss for the market, but crypto investors are a resourceful bunch and will find alternatives soon enough.

[Lucius]

It is not only the authorities and their agencies' fault that the people behind this project have decided that it is time to leave, but in my personal opinion, a large share of all the attacks that have gone towards this service were generated by their competition, which "employed" various so-called experts to analyze transactions and draw conclusions that will incriminate this service.

In the end, their great popularity and the greed of those who only wanted their share decided against them.

[snowpega]

Its really shocking because the exchange was smooth and the team was perfect, and as of now, when I read their last post, I mean 50 BTC, that's insane, they have big hearts. I wonder if Satoshi has to do something with this project, haha BTW, I don't think the authorities forced them, as you sound. They made it clear they don't want to harm the innocent people of forum, which is really amazing.

I mean, many platforms have been seized before, and people got their money stuck forever, only this time, people won't lose money, I guess. I wonder what the next management will bring. Best of luck to them, and I hope these illicit actors will stop someday using a brilliant technology for bad purposes.

I am seeing this service, which has been providing its signature service since the beginning days when I used to post on Bitcointalk, and now, in my point of view, saying goodbye to that last good service is hard for its members who are earning the best pay rewards from this campaign.

Well, I think it is the last non-gambling campaign after mixers that is providing its signature on the BitcoinTalk till May 1st. And, after that day, only gambling campaigns will be left on BTT, according to my knowledge. Am I right?