Germany’s Federal Prison Police Workplace (aka Bundeskriminalamt or BKA) has seized the web infrastructure and shutdown linked to the eXch cryptocurrency alternate over allegations of cash laundering and working a prison buying and selling platform.
The operation was carried out on April 30, 2025, authorities stated, including in addition they confiscated 8 terabytes price of knowledge and cryptocurrency belongings price €34 million ($38.25 million) in Bitcoin, Ether, Litecoin, and Sprint.
Based on the BKA, eXch[.]cx, existed since 2014 and supplied cryptocurrency swapping companies, permitting its customers to alternate digital belongings. It was obtainable each on the clearnet and the darkish internet.
eXch “particularly marketed on platforms of the prison underground financial system (UE) that it didn’t implement any anti-money laundering measures,” the BKA stated in an announcement.
“Customers had been neither required to establish themselves to the service, nor was consumer knowledge saved there. Crypto swapping through eXch was due to this fact significantly appropriate for concealing monetary flows.”
Cryptocurrency belongings price an estimated $1.9 billion are estimated to have been transferred utilizing the service since its launch. This additionally features a portion of the illicit proceeds gained by North Korean risk actors following the Bybit hack earlier this 12 months.
The event comes as eXch introduced its personal plans on April 17 to stop their operations efficient this month, prompting the authorities to safe “quite a few items of proof and leads.”
In a message posted on the BitcoinTalk discussion board, eXch stated it was shutting down after it “obtained affirmation of data” that the platform is the “topic of an energetic transatlantic operation geared toward forcibly shutting our undertaking down and prosecuting us for ‘cash laundering and terrorism.'”
“The objectives we actually by no means had in thoughts had been to allow illicit actions comparable to cash laundering or terrorism, as we’re being accused of now,” it claimed. “We even have completely no motivation to function a undertaking the place we’re considered as criminals. This does not make any sense to us.”
Following the takedown, the Dutch Fiscal Data and Investigation Service (FIOD) stated in a message that it is “actively investigating people concerned in cash laundering and different unlawful actions by way of this swap service.”
“We wish to make one factor clear: this motion isn’t an assault on privateness. We respect the fitting to privateness and acknowledge its significance within the digital age. Nevertheless, when companies are closely abused to commit crime, we’ll act,” it added.
“We urge everybody concerned in illicit exercise to stop instantly. The authorized penalties will be critical. Privateness isn’t the issue – prison misuse is.”
