Germany seizes $38M in crypto from Bybit hack-linked eXch exchange

German law enforcement seized $38 million in cryptocurrency from eXch, a platform allegedly used to launder funds stolen from Bybit’s $1.4 billion hack. This seizure, involving Bitcoin, Ether, Litecoin, and Dash, is the third-largest crypto confiscation in Germany’s federal criminal police history. The authorities also shut down eXch’s server infrastructure and seized over eight terabytes of data. eXch, described as a swapping service without AML measures, had facilitated about $1.9 billion in crypto transfers since 2014, some of which were of criminal origin. The platform was also linked to laundering funds from other crypto thefts and exploits, including Multisig, FixedFloat, and the Genesis creditor theft.