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Just wondering if it's possible to get banned from Google Adsense for accidentally linking to a site that has illegal content. I'm only guessing it would be. But, how would you know the site has illegal content? What if they post the content later after the link exchange, would that count against you?
There are many myths and misunderstandings about the exchange of links, many of which may have banned your site from Google. Prohibited in order to maximize their efforts and to avoid link exchange your site by Google
Its not so, lots of big companies are hiring link exchanger and they are doing mainly link exchange so it is not so but you have to do with quality 3 way link exchange and on relevant sites only.