Frankfurt authorities seize $38.2m from eXch due to money laundering allegations

Frankfurt authorities have seized $38.2 million in crypto assets from the exchange eXch over money laundering allegations tied to major hacks, including Bybit and Multisig.

This marks one of Germany’s largest crypto seizures and is part of a wider crackdown on unregulated platforms. Authorities recently shut down 47 crypto exchanges for failing to comply with anti money laundering and KYC rules.

These platforms allegedly enabled anonymous transactions used by cybercriminals. Investigators are now analyzing seized data to identify and prosecute those involved.