German Police Seize eXch in €34M Crypto Crime Takedown

• Police found a crypto site helping hackers move stolen money without a user ID.
• Investigators linked it to several high-value thefts and global fraud actions online.
• Servers and coins were taken fast to help stop more money from being sent or lost.

German authorities have shut down the crypto-swapping platform eXch, seizing digital assets worth €34 million and its entire infrastructure. On April 30, 2025, the Frankfurt Prosecutor’s Office and the Federal Criminal Police Office (BKA) dismantled eXch’s servers across Germany. The service operated under several domains, including eXch.cx. Authorities secured Bitcoin, Ether, Litecoin, and Dash in the raid. Notably, the confiscated funds mark the third-largest crypto seizure in BKA’s history.

eXch, launched in 2014, allowed users to swap cryptocurrencies without identity verification or user data retention. Further, reports from Law enforcement stated that it had processed around $1.9 billion since its inception, serving both Clearnet and Darknet users.

Platform Linked to Major Cybercrimes

According to an official announcement, authorities suspected that eXch took part in laundering funds from crypto-related crimes. The service is believed to have facilitated laundering proceeds from the $1.5 billion Bybit exchange hack on February 21, 2025. 

Investigators also linked it to exploits involving multisignature vulnerabilities, the FixedFloat attack, and the $243 million theft from Genesis creditors. According to sources cited by crypto investigator ZachXBT, eXch served as a channel for these illicit transactions.

eXch advertised in criminal underground forums, explicitly highlighting its lack of anti-money laundering measures. This helped conceal transaction flows and enabled anonymous exchanges. The platform’s sudden shutdown followed a short-lived announcement from its operators to close operations by May 1, 2025.

However, German authorities acted first, securing evidence, databases, and assets. Their swift response, despite limited time, successfully halted eXch’s operations and secured critical digital evidence for further probes.

Related: eXch to Shut Operations After Being Tied to Bybit Hack

International Collaboration and Further Investigations Expected

The operation included cooperation with Dutch tax authorities (FIOD), marking a coordinated international effort to combat cyber-enabled financial crimes. Officials anticipate the seized data will aid ongoing investigations into numerous other cybercrimes. Carsten Meywirth, head of cybercrime at the BKA, stated, “We secured a record amount in illicit crypto and disrupted a key laundering platform. The scale reveals how industrial cybercrime has become.”

Dr. Benjamin Krause, chief prosecutor at the Frankfurt ZIT unit, added that crypto-swapping is integral to the underground economy and emphasized the need for persistent enforcement to deny criminals the benefit of illegal gains.

In addition, authorities believe this case reveals the way in which money launderers hide their laundering through fast and decentralized platforms. Notably, the takedown will stop future illegal services. 

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