The Frankfurt Prosecutor’s Office has announced the shutdown of cryptocurrency exchange eXch, seizing digital assets worth approximately $38 million.
The seized assets include Bitcoin, Ethereum, Litecoin, and Dash. Authorities also confiscated more than 8 terabytes of data as part of a major investigation into suspected money laundering activities.
Seizure Part of Major Anti-Laundering Operation
The action is one of the largest law enforcement operations in Germany related to cryptocurrency. Investigators believe that eXch played a central role in enabling cybercriminals to move and hide large amounts of illicit funds. The total volume of suspected laundering connected to the platform is estimated at around $1.9 billion.
eXch allegedly provided crypto-related services that helped criminals launder money obtained from illegal activities, including hacks and online fraud. By offering a way to convert stolen digital assets into other forms of currency with limited oversight, the platform became a tool for cybercriminals operating across multiple countries.
In addition to the cryptocurrency seizure, investigators took possession of the platform’s servers and data infrastructure. The 8 terabytes of data now under analysis may help authorities uncover further evidence of criminal networks and additional users of the platform. This data is expected to play a crucial role in ongoing investigations.