Cryptocurrency exchange XCH has vehemently denied allegations of being involved in laundering hacked funds from the recent Bybit breach. The exchange released a statement addressing the accusations and emphasized that they have stringent security measures in place to prevent such activities.

The controversy arose after reports surfaced linking XCH to the laundering of funds stolen from Bybit, a popular cryptocurrency platform. However, XCH refuted these claims, stating that they conduct thorough due diligence on all transactions to ensure compliance with anti-money laundering regulations.

In their statement, XCH highlighted their commitment to maintaining the integrity of their platform and cooperating with law enforcement agencies to investigate any suspicious activities. They also reassured their users that their funds are safe and secure on the exchange.

The exchange urged the cryptocurrency community to exercise caution and not jump to conclusions based on unverified reports. They emphasized the importance of verifying information before circulating it to prevent false accusations and damaging the reputation of legitimate businesses in the industry.

XCH’s swift response to the allegations showcases their transparency and dedication to upholding ethical standards in the cryptocurrency space. By addressing the issue head-on and providing clarifications, they aim to restore trust and confidence among their users and the wider crypto community.

The post eXch Crypto Exchange Denies Laundering Bybit’s Hacked Funds: What You Need to Know appeared first on Crypto Breaking News.

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Filed under: News - @ February 24, 2025 2:10 am