In a major crackdown on cybercrime, German law enforcement has seized 47 cryptocurrency exchanges that were being used for money laundering by ransomware groups and other cybercriminals. The Federal Criminal Police Office (BKA), alongside the Frankfurt Prosecutor’s Office, led the operation, codenamed “Final Exchange”, which targeted platforms operating without “Know Your Customer” (KYC) protocols, allowing users to remain anonymous during transactions.
These platforms played a critical role in enabling cybercriminals to launder the proceeds from illegal activities, including ransomware attacks, botnets, and darknet dealings. The BKA described these exchanges as a key component in the “criminal value chain” of cybercrime. Some of the most prolific platforms taken down include Xchange.cash, which had facilitated over 1.3 million transactions, and 60cek.org with 900,000 transactions. All users attempting to access these sites are now redirected to a warning page, notifying them that their data has been compromised.
Authorities confirmed that they had seized transaction records, registration data, and IP addresses from the servers, providing critical evidence for future investigations. While no arrests have been made yet, the operators of these exchanges face charges under German law, with potential multi-year prison sentences.
This operation follows a series of successful global law enforcement actions against cybercrime infrastructure, further demonstrating the growing international effort to combat illicit activities in the cryptocurrency space.
Source: Bleepingcomputer
