A major anonymous cryptocurrency exchange platform suspected of laundering funds stolen in a series of major hacks has been liquidated in Germany. According to the Frankfurt prosecutor's office and the Federal Criminal Police Office (BKA), about €34 million worth of cryptocurrencies and the project's server infrastructure were seized.
Investigation and Seizure
On April 30, 2025, officials from the Central Office for Combating Internet Crime (ZIT) and the German Federal Criminal Police Office (BKA) carried out a large-scale operation, shutting down the eXch service and seizing servers located in Germany. In addition to hardware, investigators confiscated over 8 TB of data and cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Dash. This was one of the largest operations of its kind in the agency’s history.
The eXch service had operated since 2014, allowing users to anonymously exchange cryptocurrencies. It was accessible both on the regular internet and on the darknet. On platforms associated with criminal online economies, eXch was promoted as having no anti-money laundering measures. Registration and user identification were not required, making the exchange a popular tool for obscuring the origin of funds.
According to blockchain investigator ZachXBT, a significant amount of funds stolen in major cyberattacks over recent years were laundered through eXch. These included the $1.5 billion hack of crypto exchange Bybit, the theft of $243 million from Genesis creditors, exploits of Multisig and FixedFloat, as well as funds from phishing drainers. The total transaction volume through eXch is estimated at approximately $1.9 billion.
Criminal Charges and International Cooperation
Operators of the platform are under criminal investigation for suspected professional money laundering and the creation of an illegal online trading platform. Authorities state that the founders of eXch had planned to shut the project down on May 1, but law enforcement acted in advance and managed to secure and seize critical evidence.
The investigation also involved the Dutch Tax Authority (FIOD), and ZIT and BKA believe the collected data will aid in solving further cybercrimes.
Police Statement
Carsten Meywirth, Head of Cybercrime at the BKA, emphasized that the seized amount is one of the largest in history and that the agency’s actions dealt a serious blow to the shadow crypto economy.
Dr. Benjamin Krause, Head of ZIT, noted that cross-crypto exchanges remain key tools for money laundering, which is why swift and decisive action is essential.
Shutdown of the Kidflix Platform
Earlier, German law enforcement also liquidated the Kidflix platform — a streaming site that sold videos of child abuse in exchange for cryptocurrency. The operation was carried out with the coordination of over 35 countries via Europol. The site had 1.8 million visitors, of whom 1,275 individuals purchased or distributed content through a system of digital “credits.”
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