German Authorities Seize $38M in Crypto
Massive Crypto Seizure: German authorities confiscated €34M ($38M) in cryptocurrencies, including Bitcoin, Ether, Litecoin, and Dash, from the eXch platform. This ranks as the third-largest crypto seizure in Germany’s BKA history, targeting illicit funds. The operation dismantled a major exchange, raising questions about its operations.
Illegal Operations Uncovered: Operating since 2014, eXch facilitated $1.9B in crypto transactions, some tied to the $1.4B Bybit hack. It bypassed AML and KYC rules, enabling money laundering, prosecutors say. “eXch was a hub for laundering millions,” noted ZachXBT. These allegations highlight the platform’s role in criminal activities, prompting a deeper investigation.