The Federal police in Germany (BKA) seized the server infrastructure and shut down the 'eXch' cryptocurrency exchange platform for alleged money laundering cybercrime proceeds. The operators of the platform aren't off the hook, as the German police announced they are under suspicion of commercial money laundering and operating a criminal online trading platform. During the law enforcement operation, the authorities also seized eight terabytes of data and cryptocurrency (Bitcoin, Ether, Litecoin, and Dash) worth approximately $38,000,000, making this the third largest seizure of digital assets in BKA's history. eXch was immediately implicated in Lazarus' money laundering efforts, which it vehemently denied at the time, dismissing some suspicious fund flows through them as isolated cases. The BKA says that, despite the limited time they had since eXch announced the shutdown of its service, they managed to secure numerous pieces of evidence that led to today's law enforcement operation. Bill Toulas Bill Toulas is a tech writer and infosec news reporter with over a decade of experience working on various online publications, covering open-source, Linux, malware, data breach incidents, and hacks. The BKA says the platform did not comply with 'know-your-customer' regulations, allowing money laundering by cybercrime and other illegal rings to bloom. Still, BKA's seizure of eXch infrastructure, even if no longer active, could help trace stolen amounts and identify cybercriminals who used the service.
This Cyber News was published on www.bleepingcomputer.com. Publication date: Fri, 09 May 2025 15:10:08 +0000