German Authorities Seize €34M in Crypto, Shut Down eXch Platform

German authorities have taken a significant step in combating cybercrime by seizing €34 million in cryptocurrency and shutting down the eXch platform. This operation, conducted by the Federal Criminal Police Office (BKA) and the public prosecutor’s office in Frankfurt, targeted a digital platform suspected of aiding criminals in hiding stolen money. The confiscated funds included prominent virtual currencies such as Bitcoin, Ether, Litecoin, and Dash, making it the third-largest crypto seizure in BKA history. In addition to the digital assets, law enforcement also closed eXch’s servers in Germany, which contained over eight terabytes of data.

eXch, launched in 2014, operated on both the open and dark web, primarily facilitating the exchange of one form of cryptocurrency for another. The platform gained notoriety in criminal circles due to its lack of anti-money laundering checks, allowing users to remain anonymous and conceal the sources of their digital funds. Over the years, approximately €1.9 billion worth of cryptocurrency transited through the platform, with officials believing a substantial portion came from illegal activities. Notably, the platform is suspected of laundering funds from the Bybit hack in February 2025.

The owners of eXch are currently under investigation for commercial money laundering and operating a criminal platform. Despite the platform’s operators announcing their intention to close operations on May 1, German police swiftly gathered key evidence and obtained access to eXch’s data and digital assets with minimal notice. This operation was conducted in close cooperation with Dutch investigators from the Tax Investigation Department (FIOD), highlighting the importance of international collaboration in combating cybercrime.

Carsten Meywirth, head of the Cybercrime Division at the BKA, emphasized the significance of this action, stating that it sends a powerful message about the authorities' commitment to eliminating large-scale cybercrime. Dr. Benjamin Krause, Chief Public Prosecutor, further explained that platforms like eXch make it easier for criminals to conceal illegal proceeds, and shutting them down helps choke the flow of dirty money. This seizure and shutdown mark another strong move in the ongoing battle against digital money laundering, demonstrating the effectiveness of coordinated efforts between nations and law enforcement agencies in halting cybercriminals from using cryptocurrency as a safe haven for illegal wealth.