German Police Seize $38 Million in Crypto Tied to Bybit Hack

German authorities seized a significant amount of cryptocurrency, totaling $38 million, linked to the controversial Bybit hack. This action follows the seizure of over €34 million in crypto from eXch, a platform linked to the stolen funds. The German Federal Criminal Police Office (BKA) and Frankfurt’s prosecutor’s office conducted this operation, effectively shutting down eXch’s local activities. The Bybit hack, which occurred on February 21, 2025, saw $1.46 billion in ETH stolen. Investigators say the North Korean Lazarus Group utilized eXch to launder over 5,000 ETH from the heist.