Germany’s Federal Felony Police Workplace (aka Bundeskriminalamt or BKA) has seized the web infrastructure and shutdown linked to the eXch cryptocurrency alternate over allegations of cash laundering and working a prison buying and selling platform.
The operation was carried out on April 30, 2025, authorities stated, including additionally they confiscated 8 terabytes value of knowledge and cryptocurrency belongings value €34 million ($38.25 million) in Bitcoin, Ether, Litecoin, and Sprint.
In keeping with the BKA, eXch[.]cx, existed since 2014 and supplied cryptocurrency swapping providers, permitting its customers to alternate digital belongings. It was accessible each on the clearnet and the darkish internet.
eXch “particularly marketed on platforms of the prison underground economic system (UE) that it didn’t implement any anti-money laundering measures,” the BKA stated in an announcement.
“Customers had been neither required to determine themselves to the service, nor was consumer information saved there. Crypto swapping by way of eXch was due to this fact significantly appropriate for concealing monetary flows.”
Cryptocurrency belongings value an estimated $1.9 billion are estimated to have been transferred utilizing the service since its launch. This additionally features a portion of the illicit proceeds gained by North Korean menace actors following the Bybit hack earlier this 12 months.
The event comes as eXch introduced its personal plans on April 17 to stop their operations efficient this month, prompting the authorities to safe “quite a few items of proof and leads.”
In a message posted on the BitcoinTalk discussion board, eXch stated it was shutting down after it “acquired affirmation of data” that the platform is the “topic of an lively transatlantic operation geared toward forcibly shutting our challenge down and prosecuting us for ‘cash laundering and terrorism.'”
“The targets we definitely by no means had in thoughts had been to allow illicit actions similar to cash laundering or terrorism, as we’re being accused of now,” it claimed. “We even have completely no motivation to function a challenge the place we’re seen as criminals. This does not make any sense to us.”
Following the takedown, the Dutch Fiscal Info and Investigation Service (FIOD) stated in a message that it is “actively investigating people concerned in cash laundering and different unlawful actions by means of this swap service.”
“We need to make one factor clear: this motion is just not an assault on privateness. We respect the precise to privateness and acknowledge its significance within the digital age. Nevertheless, when providers are closely abused to commit crime, we’ll act,” it added.
“We urge everybody concerned in illicit exercise to stop instantly. The authorized penalties may be critical. Privateness is just not the issue – prison misuse is.”
