Privacy Focused "eXch" Cryptocurrency Exchange to End Operations

The cryptocurrency exchange "eXch", known for its privacy focused instant trading platform, has announced it will shut down operations effective May 1, 2025. Operating since 2014, eXch has provided a no-KYC (Know Your Customer) service, allowing users to trade cryptocurrencies like Bitcoin, Litecoin, Monero, Dash, Ethereum, and ERC-20 tokens with a high degree of anonymity. The exchange’s commitment to user privacy and efficient automatic exchange processes made it a popular choice for those seeking secure and user-friendly crypto trading. However, the platform now faces significant challenges that have prompted its closure.

The decision to close eXch stems from mounting pressure from a transatlantic operation targeting the exchange, according to the official announcement. The platform’s team revealed that state intelligence sources confirmed an active investigation accusing eXch of facilitating money laundering and terrorism. Despite successfully operating through previous attempts to disrupt its infrastructure, the team voted to cease operations following urgent meetings with a new management group. The exchange emphasized that its original mission was to demonstrate privacy focused alternatives in the crypto space, not to enable illicit activities, and it has no interest in continuing under a cloud of criminal accusations.

The eXch team expressed frustration with the broader crypto industry’s reliance on flawed AML (Anti-Money Laundering) and KYC policies, which they argue fail to prevent illegal activities while compromising user privacy. They highlighted that their platform proved instant exchanges could prioritize user anonymity more effectively than centralized mixers, though they rejected the “mixer” label. The team also noted that other privacy focused projects, such as Monero, Litecoin’s MWEB, Dash, Tornado Cash, and Bitcoin CoinJoin protocols, continue to offer robust alternatives for users seeking anonymity.

In a forward-looking move, eXch announced a 50 BTC open-source fund to support free and open-source software (FOSS) projects focused on enhancing crypto privacy. The fund will support initiatives like Bitcoin and Ethereum wallets, Thorchain interfaces, and Bisq Light Client, provided they avoid certain programming languages and prioritize security. The exchange also praised Thorchain for resisting pressure to implement screening mechanisms, reinforcing its reliability as a decentralized protocol.

As eXch prepares to wind down, it will provide temporary API access to partners and consulting to ensure a smooth transition. The team expressed hope that other privacy oriented exchanges will emerge to fill the gap, continuing the mission to protect user privacy in the crypto space. The announcement concluded with a firm stance that privacy remains a fundamental right, not a criminal act, underscoring the principles that guided eXch for over a decade.