Germany Cracks Down on Crypto Laundering Hub eXch: €34 Million Seized

Germany has launched one of its biggest crypto crackdowns to date, shutting down the notorious swapping service eXch. Operated since 2014, the platform was allegedly a major hub for laundering stolen crypto and aiding cybercriminals.

Authorities seized €34 million worth of digital assets and 8 terabytes of critical evidence, coordinated by the Frankfurt Prosecutor’s Office (ZIT) and the Federal Criminal Police Office (BKA), in cooperation with Dutch officials.

eXch: The Darknet’s Money Mixer
With no KYC, no oversight, and full anonymity, eXch thrived in the shadows. Heavily promoted on darknet forums, it allowed users to convert stolen coins into clean assets. According to blockchain investigator ZachXBT, the platform was linked to major hacks like the Bybit multisig breach and the $243M Genesis Creditor theft.

Before its voluntary shutdown announced on May 1, eXch processed nearly $1.9 billion in transactions. Despite the shutdown, authorities acted quickly, seizing data and funds across borders.

A Shift in Crypto Law Enforcement
German officials say this is the start of a new enforcement model – striking before crimes escalate. With the blockchain providing traceable records, authorities are now better equipped to identify and dismantle illicit operations before they reach full scale.

The eXch case sets a global precedent for preemptive, data-led crypto enforcement, sending a clear message: digital currencies leave a trail — and justice is following it.