Germany’s Federal Criminal Police Office (BKA) has seized the server infrastructure of the cryptocurrency exchange eXch, accusing it of facilitating large-scale money laundering through illicit crypto transactions.
The platform was officially shut down following the law enforcement operation, which also led to the confiscation of $38 million worth of digital assets, including Bitcoin, Ether, Litecoin, and Dash.
Authorities also secured 8 terabytes of data, marking one of the most significant digital asset seizures in BKA’s history. According to the agency, eXch operated without adhering to ‘know-your-customer’ (KYC) regulations, enabling cybercriminals and other illegal actors to launder money through anonymous transactions.
Since its launch, eXch allegedly processed over $1.9 billion in cryptocurrency, much of which is suspected to be linked to cybercrime. The BKA believes the platform played a key role in laundering part of the $1.5 billion stolen from crypto exchange Bybit in February 2025, a breach attributed to North Korea’s Lazarus hacking group.
Although eXch denied these allegations at the time, it announced a complete shutdown on May 1, 2025, citing external pressure and growing scrutiny. Despite the platform’s closure, the BKA says the seized infrastructure and data could aid in tracing stolen assets and uncovering the identities of individuals behind the laundering operations.
The operators of eXch are now under investigation for commercial money laundering and running a criminal trading platform. German authorities say their rapid action, despite limited time since the shutdown notice, allowed them to gather crucial evidence to move forward with the crackdown.
