Crypto Swap Platform eXch, Once a Darknet Favorite, Now Seized in €34M Bust

Germany seizes €34M in crypto after shutting down darknet-linked swap platform eXch eXch processed $1.9B in crypto flows and is tied to Bybit hack and Genesis asset theft German and Dutch police now investigate eXch’s links to broader crypto cybercrime networks German law enforcement shut down the crypto swapping service eXch on April 30, seizing €34 million in assets and eight terabytes of data. According to the press release , the move followed suspicions of commercial money laundering and darknet operations. Authorities believe the service helped conceal large-scale illicit financial flows. The Frankfurt am Main Public Prosecutor’s Office, the Federal Criminal Police Office (BKA), and the Central Office for Combating Internet Crime (ZIT) spearheaded the operation. Related: FBI: North Korea’s “TraderTraitor” Gang Behind $1.5B Bybit Hack Authorities confiscated Bitcoin, Ethereum, Litecoin, and Dash, with an estimated combined value of €34 million. The seizure of over eight terabytes of platform data marks the third-largest crypto asset confiscation in BKA history. eXch: A Hub for Anonymous Crypto Swaps Since 2014 Launched in 2014, … The post Crypto Swap Platform eXch, Once a Darknet Favorite, Now Seized in €34M Bust appeared first on Coin Edition .

Source: Coin Edition