Frankfurt Authorities Seize $38.2 Million from eXch in Money Laundering Probe

Frankfurt authorities have seized over $38.2 million worth of crypto assets from the eXch cryptocurrency exchange, following allegations that it facilitated money laundering for high-profile hacking events. The move comes after the Frankfurt Prosecutor’s Office shut down the platform and seized its assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dash (DASH). 34 million euros in cryptocurrencies were confiscated, according to the prosecutor’s office. The investigation accuses eXch of operating a criminal trading platform and engaging in commercial money laundering.