German authorities have seized servers of eXch, controlling crypto wallets valued at over 38,000,000 USD. This marks one of the largest confiscations in Germany’s history, highlighting serious allegations against the exchange regarding its operations.
The management of eXch argues its no-KYC policy was intended for privacy rather than facilitating money laundering. However, on-chain investigator ZachXBT has indicated possible ties between eXch and large-scale hacking operations.
Despite the seizures, some eXch addresses reportedly still hold minor cryptocurrency reserves. Operations were stopped on May 1 by the management, rather than law enforcement.
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