German Shut Down Crypto Platform eXch Tied to Bybit Hacks

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German Police Shut Down Crypto Platform eXch Linked to Bybit Hacks

Written by Aaron S.,

Editor-In-Chief

Last Updated: May 09, 2025

Key Takeaways

German police shut down eXch and seized $38 million in crypto linked to major hacks, including Bybit’s $1.4 billion theft;
The exchange, active since 2014, moved nearly €1.8 billion with no anti-money laundering checks in place;
Investigator ZachXBT said eXch ignored warnings and let scammers move stolen funds without restrictions.

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German Police Shut Down Crypto Platform eXch Linked to Bybit Hacks

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German authorities have taken down a cryptocurrency exchange suspected of helping criminals move stolen funds from several major hacks, including the $1.4 billion theft from Bybit.

The operation resulted in the seizure of around €34 million (around $38 million) worth of digital assets, according to a joint statement from Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s public prosecutor on May 9.

The seized platform, eXch, was used to swap different cryptocurrencies and reportedly had no checks to stop money laundering. Investigators said the service had been active since 2014 and handled nearly €1.8 billion in transactions.

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Along with the cryptocurrency, police also confiscated servers located in Germany. These servers contained over eight terabytes of data, which will now be reviewed in the ongoing investigation. The platform has been fully shut down.

The authorities noted:

Among other things, a portion of the $1.5 billion stolen from the Bybit crypto exchange, which was hacked on Feb. 21, 2025, is said to have been exchanged via eXch.

Independent blockchain investigator ZachXBT noted in a Telegram message that eXch had a long history of being used to move stolen funds. They said the platform had ignored warnings and continued to allow suspicious activity by not freezing addresses or blocking known scams.

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