Caution when participating in the crypto market: 38 million USD confiscated, revealing the dark side of illegal platforms

Recently, the German authorities confiscated 38 million USD in cryptocurrency from the eXch exchange, raising serious warnings about the risks of trading on unregulated platforms.

#eXch , operating since 2014, offers anonymous cryptocurrency asset swapping services, without implementing identity verification (KYC) or anti-money laundering (AML) measures. This makes it an ideal tool for cybercriminals. Approximately 1.9 billion USD has been transferred through this platform, including stolen cryptocurrency – part of which comes from the 1.4 billion USD hack of the Bybit exchange, allegedly conducted by the North Korean hacker group #Lazarus .

The incident shows:

Opaque exchanges pose significant legal risks.

Users' funds can be traced, frozen, or confiscated if linked to illegal money flows.

Users may unknowingly facilitate money laundering activities.

Advice: Only use legal exchanges that are strictly regulated and comply with international standards.

Risk warning: Investing in cryptocurrency always carries high risks and is not suitable for everyone. Always conduct thorough research and protect your assets.