eXch instant exchange to shut down on May 1 2025

Top XMR KYC-free instant exchange platform eXch¹ has announced plans² to shut down its operations on May 1 2025, apparently after being targeted by an active transatlantic operation:

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 [..] We also have absolutely no motivation to operate a project where we are viewed as criminals. This doesn’t make any sense to us. [..] Our partners will still have access to our API for a limited time, but what happens after May 1st will depend on our new management team, who will be in possession of all access to our infrastructure.

The complete announcement is available on the Bitcointalk forum². This story is also currently being discussed in r/Monero³.

This is an ongoing story and the report will be updated when new information is available.