German authorities seized €34 million worth of cryptocurrency from the exchange platform eXch, uncovering suspected money laundering connected to a ByBit hack. This action highlights the risks posed by unregulated crypto platforms and increases regulatory scrutiny. The seizure was conducted by German authorities following suspicions of illegal activities linked to the exchange. The eXch platform operated without established Anti-Money Laundering protocols and allowed users to conduct transactions without proper checks. This crackdown, led by the Federal Criminal Police Office (BKA), underscores the scale of cybercrime in the crypto industry. The seized funds are linked to illicit transfers following a recent hack on ByBit, causing significant losses for users and market instability. This move signals a shift towards greater regulation within the crypto world and could deter similar unregulated activity. This crackdown follows previous successful operations targeting crypto-related crimes, demonstrating the ongoing efforts to combat illegal activities in the cryptocurrency sphere. Experts emphasize the importance of integrating Anti-Money Laundering measures into crypto platforms for more effective prevention of large-scale money laundering and control over anonymous transactions. A short notice announcement from eXch, outlining their intention to cease operations on May 1, 2025, allowed authorities to secure key evidence and assets.