Germany seizes $38M in crypto from Bybit hack-linked eXch exchange

The $38 million crypto seizure from the Bybit hack-linked eXch was the third-largest crypto confiscation in the history of Germany’s federal criminal police office.

German law enforcement has seized 34 million euros ($38 million) in cryptocurrency from eXch, a cryptocurrency platform allegedly used to launder stolen funds during Bybit’s record-breaking $1.4 billion hack.

The seizure, announced on May 9 by Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s main prosecutor’s office, involved multiple crypto assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Dash (DASH). The move marks the third-largest crypto confiscation in the BKA’s history.

The authorities also seized eXch’s German server infrastructure with extensive over eight terabytes of data and shut down the platform, the announcement added.

Read more