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Home»Analysis»Germany enters $ 38 million in crypto linked to Bybit Exchange Hack
Analysis

Germany enters $ 38 million in crypto linked to Bybit Exchange Hack

May 9, 2025No Comments4 Mins Read
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Key notes

  • The German authorities confiscated $ 38 million in cryptocurrency linked to the piracy of Bybit.
  • The pirates used the Exch scholarship to whiten part of the stolen funds.
  • Exc was closed by the authorities so as not to have implemented silver anti-flowage measures.

Cryptocurrency Exchange Exch made the headlines to be allegedly the platform by which the hackers bleached the stolen cryptocurrency in Bybit. The German authorities have entered 34 million euros ($ 38 million) of the Ecch cryptocurrency as part of the record violation of $ 1.4 billion.

The Federal Bureau of the German Criminal Police (BKA) and the main Francfurt prosecutor confirmed the news of May 9, 2025. The stolen assets include Bitcoin

BTC
$ 96 611



24h volatility:
2.1%


COURTIC CAPESSION:
$ 1.92 T



Flight. 24 hours:
$ 29.09 B

Ether

Ethn
$ 1,845



24h volatility:
2.6%


COURTIC CAPESSION:
$ 222.72 B



Flight. 24 hours:
$ 14.22 B

Litecoin

Thal
$ 90.41



24h volatility:
7.5%


COURTIC CAPESSION:
$ 6.86 B



Flight. 24 hours:
$ 432.71 M

and dash

Dash
$ 23.29



24h volatility:
0.8%


COURTIC CAPESSION:
$ 285.26 M



Flight. 24 hours:
$ 31.08 M

.


The Crypto Exch exchange platform, which began its operations in 2014, was used to facilitate the exchange of various cryptocurrency assets. The authorities revealed that the exchange operated both on Clearnet and Darknet, which makes it accessible to a wide range of users.

The platform was seized by the German authorities and its servers were confiscated due to its involvement in money laundering for criminals. This was possible, the authorities say, because Echs did not implement money-breaches of money.

Before the seizure of its servers, Exch announced that it would cease operations in Germany on May 1, 2025. During its operation, the platform would have been involved in the transfer of cryptographic assets worth around 1.9 billion dollars.

The exch would have worked without obliging users to submit identity documentation or to keep user data, which allowed individuals to more easily hide financial transactions. This lack of regulatory monitoring has enabled the platform to be exploited by criminals.

The exchange was finally closed after being revealed that part of the funds stolen during the massive violation of February 21 of the Bybit cryptocurrency platform had been bleached by the Exch services.

Hack

In February, the exchange of appeals was the victim of a cyber attack that targeted one of its cold wallets, which led to a flight of $ 1.46 billion in ether. The attackers, identified as the North Korean group Lazarus, used a “masked” transaction technique in combination with a fraudulent interface of safe wallet to deceive the Bybit security team by authorizing malicious transactions.

In the aftermath of the violation, the CEO of Bybit, Ben Zhou, reassured the public that the operations of the exchange would continue as normal, stressing that a single cold portfolio had been compromised. After the hack, Zhou revealed that the Lazare group had moved some of the stolen funds through mixers in order to obscure their origin.

4.21.25 Executive summary on hacked funds:
Total pirated funds of 1.4 billion USD around 500K ETH. 68.57% remain traceable, 27.59% became dark, 3.84% were frozen. The funds that have been found mainly fluffed in the mixers, then through the bridges to the P2P and OTC platforms.
Recently, we have …

– Ben Zhou (@benbybit) April 21, 2025

following

Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.

Cryptocurrency news, news

Rose Nnamdi

Rose is a writer of cryptographic content with solid experience in finance and technology. It simplifies complex blockchain and cryptocurrency subjects, offering insightful articles and market analysis to help readers sail in the evolving cryptography landscape.

Rose Nnamdi on Linkedin





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