German Authorities Seize $37.4M in Assets from Shuttered Crypto Exchange eXch
German authorities seized servers and cryptocurrency worth $37.4 million from eXch, a crypto exchange accused of operating without licenses and facilitating money laundering for North Korean hackers linked to the Bybit hack. The Federal Criminal Police Office (BKA) stated that eXch processed transactions without adequate anti-money laundering controls, attracting criminals. The seized items included crypto holdings and server hardware, with the exchange accessible on both clearnet and darknet. eXch was implicated in laundering hundreds of millions from various hacks, including the Bybit hack, which resulted in over $1.4 billion in stolen funds. Blockchain analytics firms linked eXch to North Korea's Lazarus Group and reported its refusal to block stolen assets despite requests from Bybit. eXch announced its closure last month amid scrutiny but allegedly continued operations.
