Germany Shuts Down eXch Crypto Exchange in $1.9B Money Laundering Crackdown

A Crypto Exchange Built for Criminals

You’ve heard of sketchy crypto exchanges, but eXch took it to another level. For over a decade, this platform quietly helped criminals move $1.9 billion in illicit cash no questions asked.

Then, on April 30, 2025, German police finally pulled the plug.

The Bundeskriminalamt (BKA) Germany’s FBI raided eXch’s servers, grabbing €34 million in crypto and a staggering 8 terabytes of data. This wasn’t just some small-time operation. We’re talking about a major hub for money laundering, used by hackers, fraudsters, and even North Korean cybercriminals.

How eXch Worked (And Why Criminals Loved It)

Imagine a crypto swap meet where nobody checks IDs. That was eXch.

Unlike regulated exchanges like Coinbase or Kraken, eXch didn’t care who you were. No KYC. No anti-money laundering checks. Just fast, anonymous swaps perfect for cleaning dirty money.

• Bitcoin? Swap it for Monero.

• Stolen funds? Mix them into untraceable transactions.

The BKA says eXch advertised on dark web forums, bragging about its no-rules approach. And business was booming especially after the 2025 Bybit hack, where North Korean hackers allegedly laundered part of their haul through the platform.

The Sudden “We’re Shutting Down” Announcement

Here’s where things get interesting.

On April 17, eXch dropped a bombshell on BitcoinTalk:

“We’re closing. Why? Because we’ve been told there’s a ‘transatlantic operation’ coming for us.”

They claimed they never wanted to help criminals just provide “privacy.” But by then, it was too late.

German cops weren’t waiting for a graceful exit. They raided the servers, froze wallets, and started digging through years of transaction logs.

The Bigger Picture: Privacy vs. Crime

This takedown isn’t just about eXch. It’s part of a global crackdown on shady crypto services.

The Dutch FIOD (their financial crimes unit) put it bluntly:

“This isn’t about attacking privacy. It’s about stopping criminals. If your ‘privacy service’ is laundering billions, you’re next.”

The message? Privacy is fine. Crime isn’t.

What Happens Now?

• More busts? Probably. eXch won’t be the last.

• Tighter rules? Almost certainly governments hate untraceable cash.

• Legit privacy coins? They’re sweating right now.

One thing’s clear: The Wild West days of crypto are ending.