German law enforcement has seized €34 million ($38 million) in cryptocurrency from eXch, a platform allegedly involved in laundering stolen funds from the Bybit hack, which saw $1.4 billion stolen on February 21, 2025. The seizure, carried out by Germany’s Federal Criminal Police Office (BKA), included multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dash. This marked the BKA’s third-largest crypto confiscation. Additionally, eXch's server infrastructure, containing over eight terabytes of data, was also seized, and the platform was shut down. eXch was described as a swapping service that allowed users to exchange crypto assets without proper Anti-Money Laundering (AML) measures. The platform, operational since 2014, facilitated approximately $1.9 billion in transactions, many linked to criminal activities, including funds from the Bybit hack. Moreover, it was involved in laundering assets from other notable crypto thefts, as reported by analysts.

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