German Authorities Seize $1.9 Billion Crypto Platform Used by Hackers

Germany’s Federal Criminal Police Office (BKA), in cooperation with the Frankfurt Public Prosecutor’s Office, has seized the cryptocurrency swapping platform eXch.cx, which was allegedly used by cybercriminals, including North Korean hacking groups and darknet market actors.

The platform, operational since 2014, enabled users to swap cryptocurrencies without complying with anti-money laundering (AML) regulations or identity verification protocols. This anonymity made eXch.cx a favored tool for laundering illicit funds.

Authorities confiscated over €34 million (approx. $38 million) worth of crypto assets and more than 8 terabytes of data during the takedown, which took place on April 30, 2025. The site’s infrastructure, which operated on both the clearnet and the dark web, was also dismantled.

Investigators believe eXch.cx was involved in laundering proceeds from major cybercrimes, including the $1.5 billion Bybit hack earlier this year, attributed to the North Korean Lazarus Group. Prior to the seizure, eXch.cx announced plans to shut down by May 1, citing mounting legal pressure.

The case highlights the growing international crackdown on illicit crypto operations and platforms that fail to meet compliance standards.