Germany’s authorities closed a prominent crypto exchange called eXch on April 30, 2025. The exchange permitted users to exchange cryptocurrencies without revealing any identity or personal information. Crypto assets with an approximate value of €34 million, comprising Bitcoin, Ether, Litecoin, and Dash, were impounded.
They also obtained more than eight terabytes of data from German servers. eXch operated since 2014 and functioned both through public and dark web sites.
Criminals utilized eXch to conceal stolen money, authorities say. The platform marketed itself underground as an exchange for peer-to-peer transactions with no checks. During its time in operation, almost $1.9 billion of crypto flowed through the exchange.
$1.5B stolen crypto seized in eXch takedown
Law enforcement officials suspect that part of the $1.5 billion of money stolen in February’s Bybit hack went through eXch.Operators of eXch are accused by authorities of money laundering and criminal operation. The eXch team had scheduled a May 1 shutdown of the website, but authorities intervened pre-emptively.
They were able to confiscate the server infrastructure, the platform database, and the digital assets. The operation was headed by the Frankfurt Public Prosecutor’s Office and the Federal Criminal Police Office. The operation involved cooperation with the Dutch Tax Investigation Department. This operation was the third-largest crypto confiscation in German history.
Crypto bust targets Illegal money laundering
Authorities hope the evidence they have collected would lead to the solution of more cybercrimes. The speedy action, with little prep time, prevented the platform from wiping out data. Investigators are still studying the data for additional clues. More money-related crimes linked with other cases are expected to be revealed.
The operation illustrates the extent to which the illicit crypto economy has penetrated. It also indicates that authorities are coming after the critical mechanisms that enable criminals to transmit money secretly. Authorities intend to continue exerting pressure against crime syndicates.
They intend to regain ill-gotten gains and shut down new money laundering channels. This is a warning. Online sites that aid money laundering will have to pay the price. Law enforcement continues to pursue illicit crypto actions overseas.
