Deep Tide TechFlow News, on May 9, the Federal Criminal Police Office (BKA) of Germany and the Frankfurt Public Prosecutor's Office successfully shut down the cryptocurrency exchange platform "eXch" on April 30, and seized cryptocurrencies including Bitcoin, with a total value of approximately 34 million euros, marking the BKA's third largest seizure of cryptocurrency assets in history.

The platform has been operating since 2014, specifically providing anonymous cryptocurrency exchange services, processing approximately 1.9 billion dollars in transactions. Investigations indicate that the platform is suspected of providing money laundering channels for criminal funds, including the transfer of some funds related to the 1.5 billion dollar theft case at Bybit exchange in February this year.

Currently, the platform operators are under investigation for operating a criminal trading platform and charges of money laundering among others. German police stated that this operation will help to uncover more cybercrime cases.