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    Home»Crypto News»German Authorities Seize €34M in Crypto, Shut Down eXch Platform
    German Authorities Seize €34M in Crypto, Shut Down eXch Platform
    Crypto News

    German Authorities Seize €34M in Crypto, Shut Down eXch Platform

    By Crypto EditorMay 10, 2025No Comments3 Mins Read
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    • German police seize €34M crypto, shut down eXch platform.
    • eXch linked to laundering $1.4B from Bybit hack.
    • Platform lacked AML checks, aiding crypto crime networks.

    In a significant crackdown on cybercrime, German authorities have seized €34 million price of cryptocurrency. The transfer focused eXch, a digital platform suspected of serving to criminals cover stolen cash. This seizure, which they introduced on Might 9, was carried out by the Federal Prison Police Workplace (BKA) and the general public prosecutor’s workplace in Frankfurt.

    eXch Accused of Laundering Bybit Hack Funds

    The confiscated funds additionally concerned well-known digital currencies like Bitcoin, Ether, Litecoin, and Sprint. Curiously, it’s the third most important crypto confiscation within the historical past of the BKA. Apart from the digital funds, legislation enforcement additionally closed eXch’s servers in Germany. These servers contained greater than eight terabytes of information.

    eXch was launched in 2014. If that’s the case, then it has been working in each the open and darkish net since then. It was primarily used to change one type of cryptocurrency for an additional. Nevertheless, it obtained consideration in legal circles as a result of it lacked anti-money laundering checks. Figuring out himself didn’t register with the customers, and the platform didn’t retailer any private data. Because of this, it’s straightforward to hide the sources of their digital cash.

    In years, some €1.9 billion price of cryptocurrency had transited by means of the platform. Officers suppose that a great deal of this cash got here from unlawful sources. Particularly, they imagine that the loot from the Bybit hack in February 2025 was laundered by means of eXch.

    The homeowners of eXch at the moment are being investigated. They’re suspected of economic cash laundering and working a legal platform. Curiously, on Might 1, the platform’s operators introduced that they’d shut the operations. However German police moved quick. They have been in a position to collect key proof and acquire entry to eXch’s knowledge and digital cash even with little discover.

    eXch Shutdown Marks Main Blow to Crypto Laundering Networks

    The investigation was not carried out by itself. German officers cooperated carefully with Dutch investigators from the Tax Investigation Division (FIOD). This cooperation is anticipated to be helpful in fixing different cybercrimes too.

    Carsten Meywirth, who heads the Cybercrime Division on the BKA, emphasised the significance of this motion. He stated that whereas tearing down eXch and seizing hundreds of thousands of unlawful funds it’s a robust message. It reveals authorities take a severe stand to eradicate large-scale cybercrime. He additionally commented that digital crime grows quick and needs to be resisted with equal pressure.

    Equally, Dr. Benjamin Krause, Chief Public Prosecutor, ZIT, defined the function of such platforms as eXch. He stated crypto swapping makes it a neater recreation for criminals to hide unlawful proceeds, akin to when hacking and because of knowledge theft. This, subsequently, implies that by closing the platforms, you’re serving to choke the move of soiled cash.

    Lastly, this seizure and shutdown sign one other sturdy transfer within the warfare of digital cash laundering. By collaboration between nations in addition to efforts by the legislation enforcement, authorities are attempting to halt cybercriminals from utilizing cryptocurrency as safe place for unlawful wealth.



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