German Authorities Seize €34 Million in Crypto Assets from eXch

German law enforcement agencies, including the Frankfurt am Main Public Prosecutor’s Office, the Federal Criminal Police Office, and the Central Office for Combating Internet Crime, executed a significant operation on April 30, shutting down the crypto swapping service eXch. The operation resulted in the seizure of €34 million in assets, including Bitcoin, Ethereum, Litecoin, and Dash, as well as over eight terabytes of platform data. This seizure marks the third-largest crypto asset confiscation in the history of the Federal Criminal Police Office.

eXch, launched in 2014, facilitated anonymous crypto swaps without requiring identity verification or adhering to anti-money laundering rules. The platform operated on both the clearnet and darknet, advertising in underground forums and becoming a favored tool for concealing illicit financial transactions. Since its inception, an estimated $1.9 billion in crypto has flowed through eXch, with authorities suspecting that a significant portion of these funds were tied to criminal activities.

Investigators have linked eXch to several high-profile cybercrimes, including the $1.5 billion hack of the Bybit exchange in February 2025 and the $243 million theft in the Genesis Creditor incident. The platform's refusal to freeze stolen assets or assist law enforcement further solidified its reputation as a haven for criminals. Authorities are now examining the seized data to uncover potential connections to other cybercrime networks and broader illicit activities.

German officials, in collaboration with the Dutch Tax Investigation Department, acted preemptively to secure evidence, crypto wallets, and database files before the platform's planned shutdown on May 1. The seized data is expected to provide valuable insights into other illegal operations tied to eXch, potentially leading to further legal actions. The investigation underscores the ongoing efforts by law enforcement agencies to combat cybercrime and disrupt the financial flows that support illicit activities.