German Authorities Shut Down eXch Crypto Platform Linked to Bybit and Other High-Profile Heists

In a significant crackdown on crypto-related money laundering, German authorities have seized the eXch cryptocurrency platform, confiscating €34 million in assets and dismantling its infrastructure. The platform is alleged to have facilitated illicit transactions tied to major crypto thefts, including exploits involving Bybit, FixedFloat, and a $243 million Genesis Creditor heist. This move highlights the increasing regulatory scrutiny on cryptocurrency intermediaries.

German Authorities Seize eXch Crypto Platform Over Money Laundering Ties

German law enforcement has dismantled the crypto platform eXch, confiscating €34 million in assets and its operational infrastructure. The Frankfurt Prosecutor’s Office alleges the platform facilitated money laundering for high-profile crypto thefts, including exploits targeting Bybit, FixedFloat, and a $243 million Genesis Creditor heist.

The crackdown underscores escalating regulatory scrutiny of crypto intermediaries linked to illicit finance. While the action demonstrates enforcement capabilities, it also highlights the persistent vulnerabilities in digital asset ecosystems that bad actors exploit.

Germany Seizes $38M in Crypto Laundering Crackdown Targeting Bybit, Genesis Hack Proceeds

German authorities have executed one of the country’s largest crypto enforcement actions, shuttering exchange platform eXch and seizing €34 million ($38 million) in digital assets. The Frankfurt Public Prosecutor’s Office and Federal Criminal Police Office (BKA) dismantled the operation’s server infrastructure on April 30 - just hours before its operators planned to voluntarily shut down.

Investigators allege eXch served as a laundering hub for hundreds of millions stolen in major crypto breaches, including the $1.5 billion Bybit hack and $243 million Genesis creditor theft. The platform reportedly advertised its services on cybercriminal forums, specializing in obfuscating stolen funds through complex blockchain transactions.

Alongside the asset seizure, authorities confiscated over 8 terabytes of operational data that could reveal additional money trails. The coordinated takedown reflects Europe’s escalating crackdown on crypto-enabled financial crime as regulators push for stricter compliance measures across digital asset platforms.