German authorities have seized servers and digital assets from the ‘eXch’ cryptocurrency platform for suspected money laundering related to cybercrime, including stolen funds from a major exchange hack. This operation aims to trace stolen cryptocurrency flows and dismantle cybercriminal networks involved in illegal laundering activities. (Affected: eXch platform, digital assets, cybercriminal organizations)
Keypoints :
- The German Federal police (BKA) shut down eXch, a cryptocurrency exchange suspected of facilitating money laundering.
- Authorities seized eight terabytes of data and approximately $38 million in cryptocurrencies, marking the third-largest digital asset seizure in BKA history.
- eXch was accused of not complying with ‘know-your-customer’ regulations, enabling illicit funds transfer.
- It is believed that eXch processed Bitcoin from criminal sources, including funds stolen from the Bybit exchange hack.
- The hack of Bybit in February 2025 was attributed to North Korea’s Lazarus group, known for cybercrime activities.
- Operators of eXch denied involvement in laundering but eventually shut down amidst increased scrutiny.
- The seizure may facilitate tracing stolen assets and identifying cybercriminals involved in money laundering schemes.