Overview

• German law enforcement seized €34 million in cryptocurrency, server hardware, and 8 terabytes of data from eXch, an unlicensed crypto exchange.
• Authorities allege eXch facilitated over $1.9 billion in transactions, much of it linked to criminal proceeds, including funds from the Bybit and Genesis hacks.
• The platform operated without Know Your Customer (KYC) measures and was marketed on darknet forums as an anonymous crypto-mixing service.
• eXch was dismantled on April 30, one day before its planned shutdown, in one of Germany's largest actions against illicit crypto infrastructure.
• Investigators are now analyzing the seized data to trace laundering networks and pursue charges against those behind the platform.