Crypto Crackdown: Germany Seizes $37.4M Assets

German Authorities Seize $37.4M from Crypto Exchange eXch

• German prosecutors seized $37.4 million (€34 million) in cryptocurrency and hardware from eXch.
• The exchange allegedly facilitated money laundering for North Korean actors linked to the Bybit hack.
• eXch processed “tens of millions of dollars” in stolen assets, according to on-chain investigators.
• The platform operated without proper licenses and lacked anti-money laundering controls.
• eXch was linked to multiple crypto thefts, including the Bybit hack involving over $1.4 billion in stolen funds.

German authorities have confiscated $37.4 million in assets from the now-defunct crypto exchange eXch, which is accused of facilitating money laundering activities connected to significant crypto thefts, including the Bybit hack. The exchange reportedly processed substantial amounts of stolen funds while operating without necessary licenses or controls.