German Authorities Shut Down eXch and Seize $38M in Crypto Linked to Bybit Hack

In a significant move against illicit cryptocurrency activities, German authorities have dismantled the crypto exchange eXch and confiscated $38 million in digital assets. This action is part of a broader investigation connected to the Bybit hack, highlighting increased regulatory scrutiny on exchanges facilitating questionable transactions. While eXch was not a major platform like Binance or Coinbase, its shutdown underscores the growing crackdown on crypto-related crimes in Europe.

Bybit Hack Triggers $38M Seizure and Shutdown of eXch in Germany

German authorities have dismantled crypto exchange eXch, confiscating $38 million in digital assets as part of a sweeping investigation tied to the Bybit hack. The operation marks a significant crackdown on illicit crypto activity in Europe.

The seizure underscores growing regulatory scrutiny of exchanges facilitating questionable transactions. While eXch wasn’t among major platforms like Binance or Coinbase, its shutdown demonstrates law enforcement’s increasing capability to trace and recover stolen crypto assets.

Crypto Market Sees $730M Liquidation as Bitcoin Drops Below $102K

Leveraged positions worth over $730 million were liquidated across cryptocurrency markets in the past 24 hours, with Bitcoin leading the downturn as it fell below $102,000. Data from CoinGlass reveals 73% of these liquidations were long positions, underscoring excessive bullish sentiment among traders.

The largest single liquidation occurred on Bybit—an $11 million BTCUSD order. Market participants remain wary as the upcoming US Consumer Price Index (CPI) release threatens to inject further volatility into digital asset markets.