The German Federal Criminal Investigation Service (Bundeskriminalamt – BKA) has seized the digital systems and shut down the cryptocurrency exchange eXch , following allegations linking it to money laundering and facilitating illegal transactions.
The operation took place on April 30, 2025 and resulted in the seizure of digital data totaling 8 terabytes, as well as digital assets – including Bitcoin, Ether, Litecoin and Dash – worth a total of 34 million euros.
The BKA said the eXch[.]cx platform had been operating since 2014, offering cryptocurrency exchange services and allowing users to trade digital currencies. The platform was available on both the traditional internet and the dark web.
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According to the official announcement, eXch had been actively promoted in criminal underground circles, advertising the fact that it did not implement any policy against money laundering.
According to the BKA, users did not need any form of identification and their details were not recorded by the agency, making the platform ideal for concealing illegal financial transactions.
It is estimated that cryptocurrencies worth a total of approximately $1.9 billion have been moved through this service , an amount that includes part of the profits allegedly made by hackers from North Korea after the attack on the Bybit platform (some time ago).
It is worth noting that, on April 17, eXch announced that it was going to permanently cease operations in May, which prompted the BKA to move immediately to secure critical evidence.
In a post on BitcoinTalk, the eXch platform announced its closure, claiming that it had been informed of an international operation that aims to shut it down by force and charge it with money laundering and supporting terrorism. eXch denied any intention to engage in illegal activities, stressing that it never sought to facilitate such activities and that it had no reason to operate as a criminal organization.
At the same time, blockchain analytics firm TRM Labs published a report on May 2, noting that transactions related to child sexual abuse material (CSAM) were recorded, and that eXch had been linked to some of these transactions.
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Although the platform presented itself as privacy-friendly ,it gradually gained a reputation for avoiding transparency. For example, it reportedly refused to cooperate with Bybit to track and freeze funds that were possibly related to a cyberattack against it.
Following its shutdown, the Dutch Financial Investigation Service (FIOD) announced that it was investigating individuals who used eXch for money laundering and other criminal activities.
As emphasized by the authorities, this operation is not against privacy. On the contrary, they recognize the importance of protecting privacy in the digital world, but intervene when such services become a vehicle for committing serious crimes.
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“We urge anyone involved in illegal activities to stop immediately, as the legal consequences can be severe. We are not targeting privacy — the problem is its exploitation for criminal purposes“.
The seizure of crypto exchange eXch is an important step towards disrupting the infrastructure that supports cybercrime. It serves as a reminder that no one is above the law when it comes to illegal activities, whether they are carried out using traditional or emerging technologies.
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Combating cybercrime requires constant vigilance and cooperation from all parties involved in order to protect individuals and businesses from falling victim to these types of crimes. We can only hope that with continued efforts and advances in technology, we can stay one step ahead of cybercriminals and make the Internet a safer place for everyone.
Therefore, it is important for both government and private actors to work together to identify and address potential vulnerabilities in the digital space . This includes regularly updating security measures , educating the public about online safety, and proactively reporting any suspicious activity to the authorities. By taking a proactive approach, we can help prevent cybercrime and protect ourselves from falling victim to these malicious acts.
Source: thehackernews.com
