German Authorities Shut Down eXch Crypto Exchange, Seize Millions

In a significant blow to the cryptocurrency world, German authorities have seized over $38.5 million in digital assets from the eXch cryptocurrency exchange. The platform, allegedly implicated in money laundering schemes connected to major hacks including the Bybit incident, was effectively shut down a day ahead of its planned closure on May 1st. This swift action highlights the growing scrutiny of cryptocurrency platforms and the determination of law enforcement agencies to combat illicit financial activities within the digital asset space. The precise details of the investigation remain undisclosed, but the scale of the seizure underscores the potential risks associated with unregulated exchanges and the importance of robust anti-money laundering (AML) compliance. Further updates on this developing story will be provided as they become available.