€34 million in crypto seized from eXch for facilitating money laundering

The seizure of eXch’s servers highlights ongoing efforts to curb crypto-related money laundering, with connections to North Korean hacking groups under investigation.

German authorities have seized cryptocurrency and server infrastructure worth €34 million ($37.4 million) from the now-defunct eXch crypto exchange. Prosecutors allege the platform operated without proper licences, facilitating money laundering for North Korean hackers involved in the Bybit hack.

The exchange reportedly processed transactions without implementing necessary anti-money laundering controls, attracting criminals seeking to launder stolen funds.

Authorities also claim that eXch was involved in laundering millions…

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