Germany Seizes $38M From Crypto Platform Suspected of Laundering Bybit, Genesis Hack Proceeds

German authorities shut down crypto exchange eXch, seizing 34 million euros ($38 million) in tokens and more than 8 terabytes of data in one of the country’s largest law-enforcement actions targeting suspected crypto laundering.The Frankfurt Public Prosecutor’s Office and the Federal Criminal Police Office (BKA) dismantled the eXch's server infrastructure on April 30, just one day before the platform's operators had planned to shut it down, according to statement released on Thursday.The authorities cited the platform’s suspected use in laundering hundreds of millions in stolen crypto from major breaches — including the $1.5 billion Bybit hack, the $243 million Genesis creditor theft and numerous phishing drainer campaigns source: https://www.coindesk.com/markets/2025/05/09/germany-seizes-38m-from-crypto-platform-suspected-of-laundering-bybit-genesis-hack-proceeds