German Authorities Confiscate Crypto Worth $38m from Exchange Linked to Bybit Hack
German authorities have confiscated around $38 million worth of cryptocurrency from an exchange known as eXch, a platform suspected of helping cybercriminals launder stolen funds. This includes money linked to the $1.4 billion Bybit hack that happened earlier this year. The bust was announced on May 9, 2025 by Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s main prosecutor’s office. Alongside the crypto, investigators also seized more than 8 terabytes of server data, effectively shutting down the platform. eXch had been active since 2014, offering a “crypto swapping” service where users could exchange one coin for another—no identity checks, no…