Germany has dealt a severe blow to the dark side of crypto, shutting down the notorious eXch crypto swapping service. Authorities, including the Frankfurt Public Prosecutor’s Office (ZIT) and the Federal Criminal Police Office (BKA), seized €34 million in digital assets and eight terabytes of data, marking the country’s third-largest crypto seizure.
Why Was €34 Million Seized?
Operating since 2014, eXch was allegedly a central node in global cybercrime. On-chain sleuth ZachXBT exposed its ties to high-profile crypto hacks, including the Bybit multi-signature exploit and the $243 million Genesis Creditor heist. The platform’s refusal to freeze stolen assets or cooperate with authorities made it a haven for cybercriminals.
eXch operated with no oversight, no KYC, and full anonymity, making it a hotspot for illicit activity. It was mainly advertised on the darknet and allowed users to convert stolen or scammed coins into legitimate assets. Before the takedown, investigators estimated $1.9 billion had flowed through the platform. Though eXch announced a voluntary shutdown on May 1, law enforcement moved swiftly, coordinating with Dutch authorities to secure evidence.
A New Era of Proactive Crypto Enforcement
This operation signals a new phase in international crypto enforcement. German authorities emphasized that cybercrime has become an industrial operation, and they are now targeting criminals before they act. With eXch’s takedown, enforcement agencies across borders are showing that the blockchain leaves a trace—and so does justice.
This case sets a precedent for proactive, data-driven action against crypto laundering, sending a strong message to those using digital currencies for illicit purposes.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed