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.
