German authorities have dismantled 47 crypto exchanges that facilitated anonymous transactions for criminal activities. These platforms were used to commit financial crimes through cryptocurrencies.
💻 Websites Now Under Government Control
The websites of the seized crypto exchanges now display a clear warning from the German government:
"We have found their servers and seized them – development servers, production servers, backup servers. We have their data – and therefore we have your data. Transactions, registration data, IP addresses, our search for traces begins. See you soon"
⚖️ Limited Prosecution Due to Foreign Involvement
Although the German government has seized the servers, full prosecution is difficult because many perpetrators reside abroad. According to German authorities:
"Cybercriminals often reside abroad and are tolerated or even protected by some countries, making them frequently inaccessible to German law enforcement."
🔍 Seizure of Major Platforms
One of the seized platforms, Xchange.cash, had been active since 2012, facilitating nearly 1.3 million transactions for 410,000 users. Other major exchanges taken down include 60cek.org, Baksman.com, and Prostocash.com, all with high user and transaction volumes.
Team Coinpower
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