Germany’s Federal Criminal Police Office (Bundeskriminalamt or BKA) has seized the servers and digital infrastructure of eXch[.]cx, a cryptocurrency exchange that allegedly enabled large-scale money laundering and criminal transactions. Authorities confirmed the operation took place on April 30, 2025, resulting in the confiscation of over 8 terabytes of data and cryptocurrency assets worth €34 million (₹319.388 crore) in Bitcoin, Ether, Litecoin, and Dash.
eXch[.]cx, operating since 2014, was accessible both on the clearnet and the dark web, offering crypto swapping services with minimal identity verification, effectively making it a haven for laundering criminal proceeds.
No KYC, No Data: A Platform Designed for Anonymity
According to an official statement from the BKA, eXch[.]cx explicitly marketed itself within underground criminal networks as a platform that did not implement anti-money laundering (AML) protocols. The service did not require users to disclose their identities or provide any verifiable information. “Crypto swapping via eXch was particularly suitable for concealing financial flows,” said the BKA, emphasizing the role of the platform in shielding illegal transactions from regulatory oversight.
Authorities estimate that cryptocurrency transactions worth over $1.9 billion(approx ₹160 crore) have flowed through the platform since its inception. Among the illicit transactions identified were funds linked to North Korean threat actors, specifically those connected to the Bybit hack earlier this year.
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Exit Before the Raid: Shutdown Announcement and Forum Post
Interestingly, eXch[.]cx had announced plans to shut down operations on April 17, just weeks before the seizure. In a statement posted on BitcoinTalk, the administrators claimed that they had received credible intelligence about an impending “transatlantic operation” aimed at shutting the platform and prosecuting them on charges of money laundering and terrorism financing. “The goals we certainly never had in mind were to enable illicit activities… This doesn’t make any sense to us,” the post read, denying all allegations and implying the closure was a precautionary measure rather than an admission of guilt.
Despite these claims, law enforcement viewed the shutdown as a deliberate attempt to escape justice, prompting an urgent move to seize servers and recover digital evidence.
International Cooperation and Legal Ramifications
The Dutch Fiscal Information and Investigation Service (FIOD), which also played a role in the investigation, has confirmed it is now actively pursuing individuals associated with the platform. “This action is not an attack on privacy,” the FIOD clarified in a public message. “However, when services are heavily abused to commit crime, we will act.”
Authorities across Europe have emphasized that this move targets criminal misuse of digital tools, not the concept of financial privacy itself. Investigations are ongoing, with legal consequences expected to follow for users and administrators tied to the laundering operations.
A Wake-Up Call for Unregulated Crypto Services
This high-profile takedown highlights the growing resolve of European law enforcement to target crypto platforms that enable anonymous transactions without oversight. eXch’s downfall could serve as a warning to other platforms operating in legal grey areas or marketing to underground forums.
As cryptocurrency adoption grows, regulators and enforcement agencies are increasingly focusing on exchanges and services that undermine the integrity of financial systems, even as they reaffirm commitments to protecting lawful privacy rights.