The Federal police in Germany (BKA) seized the server infrastructure and shut down the ‘eXch’ cryptocurrency change platform for alleged cash laundering cybercrime proceeds.
Through the legislation enforcement operation, the authorities additionally seized eight terabytes of knowledge and cryptocurrency (Bitcoin, Ether, Litecoin, and Sprint) price roughly $38,000,000, making this the third largest seizure of digital property in BKA’s historical past.
The BKA says the platform didn’t adjust to ‘know-your-customer’ laws, permitting cash laundering by cybercrime and different unlawful rings to bloom.
“Since its inception, an estimated 1.9 billion US {dollars} price of cryptocurrencies have been transferred by means of the service,” reads the announcement.
“There’s a suspicion that eXch particularly accepted Bitcoin of legal origin. Amongst different issues, a part of the stolen 1.5 billion US {dollars} from the crypto change Bybit, which was hacked on February 21, 2025, is believed to have been laundered by means of eXch.”
The record-breaking Bybit crypto-heist was carried out by the infamous North Korean hacking group ‘Lazarus,’ in accordance with a number of blockchain consultants.
Banner displayed on the seized domains
Supply: BKA
eXch was instantly implicated in Lazarus’ cash laundering efforts, which it vehemently denied on the time, dismissing some suspicious fund flows by means of them as remoted circumstances.
Finally, the service’s operators succumbed to the strain and elevated scrutiny, saying they’d shut down all operations on Might 1, 2025.
Nonetheless, BKA’s seizure of eXch infrastructure, even when not energetic, may assist hint stolen quantities and establish cybercriminals who used the service.
The operators of the platform aren’t off the hook, because the German police introduced they’re beneath suspicion of economic cash laundering and working a legal on-line buying and selling platform.
The BKA says that, regardless of the restricted time they’d since eXch introduced the shutdown of its service, they managed to safe quite a few items of proof that led to right now’s legislation enforcement operation.
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