Germany Seizes $38M From Crypto Platform Suspected of Laundering Bybit, Genesis Hack Proceeds
German authorities shut down crypto exchange eXch, seizing 34 million euros ($38 million) in tokens and more than 8 terabytes of data in one of the country's largest law-enforcement actions targeting suspected crypto laundering.
The Frankfurt Public Prosecutor's Office and the Federal Criminal Police Office (BKA) dismantled the eXch's server infrastructure on April 30, just one day before the platform's operators had planned to shut it down, according to statement released on Thursday.
The authorities cited the platform's suspected use in laundering hundreds of millions in stolen crypto from major breaches — including the $1.5 billion Bybit hack, the $243 million Genesis creditor theft and numerous phishing drainer campaigns.
The platform "specifically advertised on platforms of the criminal underground economy that it did not implement anti-money laundering measures," according to an automated translation of the release. "Users were neither required to identify themselves to the service, nor was user data stored there. Crypto swapping via eXch was therefore particularly suitable for concealing financial flows."
The crackdown follows years of allegations that eXch, which has operated since 2014 at 'eXch(dot)cx' and other domains, intentionally ignored anti-money laundering protocols, maintained no user identification requirements and marketed itself on darknet forums as an anonymous, high-speed crypto-mixing service.
The service supported swaps between bitcoin (BTC), ether (ETH), litecoin (LTC) and dash (DASH) without any registration.
The investigators say that over $1.9 billion in crypto flowed through eXch during its lifetime, much of it believed to be criminal proceeds.
The takedown adds to a growing list of regulatory strikes on illicit crypto infrastructure across Europe, following similar crackdowns on services like ChipMixer, Sinbad and Hydra over the past two years.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
European Penny Stocks Spotlight: Sinteza And Two Promising Picks
As the European markets continue to show resilience, with major stock indexes rising and inflation easing, investors are increasingly looking for opportunities in less conventional areas. Penny stocks, often overlooked due to their smaller market presence, can offer unique investment prospects when supported by solid financials. This article will explore three such stocks in Europe that stand out for their potential to deliver value and growth amid evolving economic conditions. Name Share Price Market Cap Financial Health Rating KebNi (OM:KEBNI B) SEK1.86 SEK504.35M ★★★★★★ Angler Gaming (NGM:ANGL) SEK3.67 SEK275.19M ★★★★★★ Cellularline (BIT:CELL) €2.97 €62.64M ★★★★★☆ Fondia Oyj (HLSE:FONDIA) €4.68 €17.5M ★★★★★★ Abak (WSE:ABK) PLN4.20 PLN10.78M ★★★★★★ Bredband2 i Skandinavien (OM:BRE2) SEK2.41 SEK2.31B ★★★★☆☆ Hifab Group (OM:HIFA B) SEK3.54 SEK215.37M ★★★★★★ Euroland Société anonyme (ENXTPA:MLERO) €3.26 €9.49M ★★★★★★ Deceuninck (ENXTBR:DECB) €2.195 €303.05M ★★★★★★ Netgem (ENXTPA:ALNTG) €0.952 €31.88M ★★★★★★ Click here to see the full list of 447 stocks from our European Penny Stocks screener. We'll examine a selection from our screener results. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Sinteza S.A. is a Romanian company involved in the production and marketing of basic organic chemical products, with a market cap of RON47.60 million. Operations: The company's revenue is primarily derived from the manufacture of other organic basic chemicals, amounting to RON0.68 million. Market Cap: RON47.6M Sinteza S.A., a Romanian chemical producer, remains pre-revenue with sales of RON0.10 million in Q1 2025, down from RON2.18 million the previous year. Despite its unprofitability and negative return on equity of -34.02%, the company has a satisfactory net debt to equity ratio of 14.7% and a cash runway exceeding three years due to positive free cash flow growth. However, Sinteza faces challenges with short-term assets not covering liabilities and increased losses over five years at 26.3% annually, alongside high share price volatility compared to other Romanian stocks. Click here and access our complete financial health analysis report to understand the dynamics of Sinteza. Learn about Sinteza's historical performance here. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Broadpeak Société anonyme designs and manufactures video delivery components for content and network service providers deploying video streaming services over various broadband networks worldwide, with a market cap of €19.35 million. Operations: Broadpeak Société anonyme generates revenue through three primary segments: Equipment (€3.55 million), Licenses and Services (€20.26 million), and Maintenance and Service as a Software (SaaS) (€15.57 million). Market Cap: €19.35M Broadpeak Société anonyme, with a market cap of €19.35 million, reported 2024 revenues of €39.38 million, showing slight growth from the previous year. Despite being unprofitable and having a negative return on equity of -19.96%, the company maintains sufficient cash runway for over three years due to positive free cash flow and short-term assets exceeding liabilities (€28.1M vs €21.8M). The firm trades at a significant discount to its estimated fair value and has not experienced meaningful shareholder dilution recently, although it remains highly volatile compared to French stocks with stable weekly volatility at 14%. Dive into the specifics of Broadpeak Société anonyme here with our thorough balance sheet health report. Evaluate Broadpeak Société anonyme's prospects by accessing our earnings growth report. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Nextedia S.A. operates in France offering cybersecurity, cloud and digital workspace, and customer experience solutions, with a market cap of €23.17 million. Operations: The company generates revenue from its Direct Marketing segment, totaling €64.62 million. Market Cap: €23.17M Nextedia S.A., with a market cap of €23.17 million, demonstrates strong financial health in the penny stock arena. The company reported 2024 revenues of €64.62 million, reflecting growth from the previous year alongside a net income increase to €1.9 million from €0.7 million. Its debt is well covered by operating cash flow and interest payments are comfortably managed by EBIT, indicating robust financial management. Trading at a significant discount to its estimated fair value, Nextedia also benefits from seasoned board leadership and high-quality earnings growth outpacing industry averages, though its return on equity remains low at 6.1%. Jump into the full analysis health report here for a deeper understanding of Nextedia. Understand Nextedia's earnings outlook by examining our growth report. Click through to start exploring the rest of the 444 European Penny Stocks now. Contemplating Other Strategies? Outshine the giants: these 25 early-stage AI stocks could fund your retirement. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BVB:STZ ENXTPA:ALBPK and ENXTPA:ALNXT. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
27 minutes ago
- Bloomberg
Eutelsat CEO Races to Raise Funds to Keep Starlink Rival Afloat
Europe's only Starlink alternative has to get cash fast to have any hope of challenging Elon Musk's provider of satellite-based internet services. Jean-François Fallacher, who took over as chief executive officer of Eutelsat Communications SA last week, is scrambling to get funds to save OneWeb, the constellation of low-Earth orbit (LEO) satellites that Eutelsat, based in a suburb of Paris, acquired in a $3.4 billion deal in 2023.
Yahoo
30 minutes ago
- Yahoo
Ryanair to buy 30 new jet engines from CFM for $500 million
(Reuters) -Ryanair said on Tuesday it had entered a $500 million deal with jet engine maker CFM for 30 new spare LEAP-1B engines, which will be delivered to the airline over the next two years. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data