The German institution has shut down the crypto platform "#eXch " used for illegal transactions. 8 terabytes of data and 34 million euros ($38 million) worth of cryptocurrency were seized in the operation.
#German law enforcement authorities have shut down the crypto trading platform "eXch", whose server company is located in Germany and was detected in illegal transactions.
The press release stated that cryptocurrencies such as $BTC , Ether, $LTC and Dash were also seized along with 8 terabytes of data as part of the operation. It was stated that the cryptocurrencies seized amounted to 34 million euros ($38 million).
eXch has been operating since 2014 and provided direct conversion between different cryptocurrencies. It noted that the platform, which can be accessed via the Darknet, advertised, especially on "underground economy" forums, emphasizing that it did not implement any identity verification method. According to the statement, the platform in question mediated $1.9 billion worth of cryptocurrency transactions during its operation.
It was also determined that part of the 1.5 billion cryptocurrencies stolen from the hacked cryptocurrency exchange Bybit in February was laundered through eXch.
