# eXch review: KYC policy, privacy and safety grades

> eXch was a swap service and is no longer operating. Announced closure for 1 May 2025; German authorities seized its servers and about EUR 34 million on 30 April 2025.

Source: NoKYC Score, "eXch review", reviewed 22 Oct 2026, https://nokycscore.com/service/exch

## Key facts
- **Category:** Instant Swaps
- **KYC level:** 1 of 4: No ID mentioned
- **Sign-up:** No account needed
- **Custody:** custodial
- **Incidents on record:** 1
- **Last reviewed:** 22 Oct 2026
- **Official website:** https://exch.cx

## What it is
eXch was an instant swap service reachable on clearnet and Tor that required no account and applied no identity checks. After allegations that part of the proceeds of the February 2025 Bybit theft passed through it, the operators announced that the service would close on 1 May 2025. On 30 April 2025 German federal police and the Frankfurt public prosecutor seized its German server infrastructure, reporting more than 8 TB of data and about EUR 34 million in crypto assets. Authorities said they suspect the operators of commercial money laundering; the operators denied laundering allegations. No arrests were reported.

## What the terms say about ID
The service required no account or identity verification while it operated.

## Features and warnings
- **Identity:** ID never required: not stated; No account needed: yes; No email needed: yes; No phone number: yes
- **Payment:** Accepts Monero: yes; Accepts Lightning: not stated
- **Access:** Tor onion address: not stated; Works without JavaScript: not stated
- **Trust:** Never holds your funds: no; Own liquidity: not stated; Refund without ID: not stated; Open source: no; Independent audit: not stated; Company named: no; 5+ years operating: not stated
- **Warnings:** May ask for ID: not in terms; Screens deposits: not in terms; Passes orders to partners: not in terms; Holds your funds: yes; Email required: not in terms; Phone number required: not in terms; Closed source: yes; Nobody accountable: yes

## Incidents on record
- 30 Apr 2025: German authorities seized servers, 8 TB of data and about EUR 34 million (outcome: service closed). Source: https://www.elliptic.co/blog/the-rise-and-fall-of-exch-the-dark-service-used-by-north-korea-to-launder-200-million-stolen-from-bybit

## Questions
### Is eXch still operating?
No. Announced closure for 1 May 2025; German authorities seized its servers and about EUR 34 million on 30 April 2025. See the alternatives listed on this page.

## Sources
- https://www.elliptic.co/blog/the-rise-and-fall-of-exch-the-dark-service-used-by-north-korea-to-launder-200-million-stolen-from-bybit
- https://www.theblock.co/post/342871/non-kyc-exchange-exch-denies-money-laundering-allegations-as-eth-reserves-spike-following-bybit-hack

How grades are calculated: https://nokycscore.com/methodology