The German authorities have seized millions of bitcoin coins, other cryptocurrencies from the encryption platform that have now ended, which have been claimed to have washed the stolen assets of the BYBIT penetration of $ 1.4 billion and other major.
According to May 9 advertisement From the Federal Criminal Police Office in Germany (BKA) and the Public Prosecutor’s Office in Frankfurt Cyber Crime (Zit), the process led to the confiscation of approximately 34 million euros ($ 38 million) of encryption assets, including Bitcoin, Eter, Litecoin and Dash.
The researchers also took control of the German Excrence servers and the closure of the platform, and securing more than eight terabytes of data in this process.
The authorities said this represents the third largest coding seizure in the history of BKA.
The process was carried out in cooperation with the Information and Financial Investigation Service in the Netherlands (FIOD), and officials believe that the collected data can help in other similar cases associated with the Repetition Washing Network.
What is Excr?
According to BKA, the Excr is the encryption “switch” service that allows users to transfer various cryptocurrencies without any checks to know your customer (KYC) or anti -money laundering (AML).
It can be accessed via Clearnet and Darknet, which has marketed itself in criminal forums as an unknown money transfer.
According to what was reported, the platform dealt with about $ 1.9 billion of encryption transactions since its launch in 2014, where investigators suspect that a large part of these funds were of criminal origin.
Among them is a share of $ 1.5 billion stolen by bybit during the penetration of February 21, which officials say was directed by Excr.
Benjamin Kraros, Benjamin Crawr Persons, said: “The encryption switch is an essential component of the underground economy, and is used to hide the criminalized money from illegal activities such as piracy or trading in stolen payment card data, which makes it available for ideals,” said Benjamin Crawn Public Prosecutors during the risk.
Excr had previously claimed that it would be closed on May 1, noting what he described in the Bitcoin discussion publication that was now deleted as a “via Atlantic operation” aimed at service with legal monitoring and pressure.
At that time, the team said it no longer sees value in continuing under “hostile” conditions.
The advertisement said that the German authorities moved before the planned closing date to secure the main evidence that would prevent more washing activity.
Prosecutors are now following fees against platform operators, including laundering money and running an illegal trading platform.
Continuous exchange operations
According to Blockchain’s TRM LABS, EXCH remained active despite the notice of the general closure, as it continued to facilitate the washing of encryption through the background integration with partners’ services.
Soon after the closing notice was published on April 17, the exchange was removed within hours.
By April 28, the activity on the series suggested that the platform had resumed operations, indicating that its infrastructure was not fully dismantled.
The TRM investigation has found the continuous transactions associated with ExcR through the arrival of the API submitted to the subsidiary and privacy services.
The company also linked EXCH to more than $ 300,000 in the encrypted currency associated with sexual assault material networks.
The German authorities seize 38 million dollars from the Crypto from Major Excination first appeared on Invezz
