#CryptoComeback

Crypto swapping platform eXch, which began operations in 2014, was used to facilitate the exchange of various cryptocurrency assets. Authorities have revealed that eXch operated on both the clearnet and darknet, making it accessible to a wide range of users.

The platform was seized by German authorities, and its servers were confiscated due to its involvement in laundering money for criminals. This was possible, authorities claim, because eXch failed to implement anti-money laundering measures.

Before the seizure of its servers, eXch announced that it would cease operations in Germany as of May 1, 2025. During its time in operation, the platform is said to have been involved in the transfer of crypto assets worth approximately $1.9 billion.

eXch is believed to have operated without requiring users to submit identity documentation or retain any user data, which made it easier for individuals to conceal financial transactions. This lack of regulatory oversight allowed the platform to be exploited by criminals.

The exchange was ultimately shut down after it was revealed that a portion of the funds stolen during the massive February 21 breach of the Bybit cryptocurrency platform had been laundered through eXch’s services