Germany Seizes Exchange Associated with Bybit Hack Incident! Millions of Dollars Seized! Here Are the Details

By: bitcoin sistemi|2025/05/09 21:00:12
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Germany Seizes Exchange Associated with Bybit Hack Incident! Millions of Dollars Seized! Here Are the Details German authorities have seized €34 million ($38.2 million) worth of cryptocurrencies from cryptocurrency exchange eXch. German authorities have seized 34 million euros ($38.2 million) worth of cryptocurrency from defunct cryptocurrency exchange eXch as part of an investigation into allegations of commercial money laundering and operating a criminal trading platform. German Authorities Seize $38 Million in Cryptocurrency from Anonymous Exchange in Money Laundering Investigation The Frankfurt Public Prosecutor's Office confirmed on Friday that a coordinated operation conducted on April 30 resulted in the seizure of Bitcoin, Ether, Litecoin, Dash and other digital assets. Authorities also seized more than 8 terabytes of data and dismantled the platform's server infrastructure in Germany. Founded in 2014, eXch offered an anonymous crypto exchange service and promoted itself as a platform exempt from Know Your Customer (KYC) requirements or anti-money laundering (AML) protocols. Authorities said eXch actively advertised that it did not adhere to compliance standards on platforms within the “criminal underground economy.” $1.9 Billion Worth of Crypto Mined, Linked to Bybit Hack Investigators estimate that over $1.9 billion in crypto assets have passed through eXch during its lifetime, a significant portion of which is believed to have been the result of criminal activity. Prosecutors said some of the $1.4 billion stolen from crypto exchange Bybit by North Korea’s Lazarus Group was funneled through eXch. “Therefore, the operators of eXch are suspected of commercial money laundering and operating a criminal trading platform on the Internet,” German authorities said in a translated press release. Although eXch announced in mid-April that it would be shut down on May 1 for a “transatlantic operation” targeting its operators for money laundering and terrorism-related crimes, German prosecutors said they had anticipated the closure and moved quickly to secure evidence. In its farewell statement, eXch defended its platform, claiming that its privacy-focused mission had been misinterpreted. “Privacy is not a crime. Instant exchanges that use third-party APIs to scan customer deposits and impose meaningless AML/KYC requirements are far from preventing money laundering and terrorism,” eXch said in a statement in April. Authorities have yet to say whether any arrests have been made, but the investigation is ongoing. The seizure adds to a growing crackdown across Europe on platforms that facilitate anonymous crypto transactions that do not comply with regulations. *This is not investment advice.

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


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