Germany takes $ 38m to crypto from bybit hack-link that exch exchange

German law enforcement gained 34 million euros ($ 38 million) in cryptocurrency from the exch, a cryptocurrency platform allegedly used to launder funds stolen after bybit record-breaking of $ 1.4 billion hack.
The seizure, announced On May 9 of the Federal Criminal Police Office of Germany (BKA) and the office of Frankfurt’s main prosecutor, was involved in many crypto assets, including Bitcoin (Btc), Ether (Eth), Litecoin (LTC) and dash (Dash). The move marks the third-most largest confiscation of crypto in BKA history.
Authorities also seized the German server infrastructure of the exch with more than eight data terabytes and closed the platform, the announcement added.
Crypto exchanged the exchange without AML
In the statement, BKA described the exch as a “replacing” service that allowed users to exchange different crypto assets without implementing Anti-Money Laundering (AML) measures.
The platform has been operating since 2014 and reportedly facilitated about $ 1.9 billion in crypto shifts, some of which were believed to be “criminal origin,” along with assets that -laundered during the Bybit Hack.
“Among other things, a portion of the $ 1.5 billion stolen from the Bybit Crypto Exchange, which was hacked on Feb. 21, 2025, is said to have been exchanged by the exch,” authorities wrote.
Multisig, fixedfloat in laundering cases
According to In a post by Crypto Sleuth ZachXBT, the exch was also involved in launching millions of funds from other robbery and exploitation, including Multisig, FixedFloat and the $ 243 million robbery of Genesis.
These have been in addition to “countless phishing drainers’ services over the past few years with refusal to block addresses and to first orders orders,” ZachXBT said.
ZachXBT is among the first security analysts reporting on exch links to laundering $ 35 million of crypto assets stolen from Bybit soon after Hack confirmed.
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“The Lazarus Group transferred the 5K Eth from Bybit Hack to a new address and initiated laundering funds by exch (a centralized mixer) and Bitcoin’s bruising funds through the chainflip,” Zachxbt write In a telegram post in Feb. 22.
Exch announced the end of services on May 1
Then Initially was refusal to participate In laundering funds from bybit hack, the exch eventually announced that it will stop operations By May 1 in a post of a Bitcoin conversation post published in mid-April.
“Although we have been able to work despite some failed attempts to close our infrastructure (…), we do not see any operating point in a angry environment where we are the target of Sigint (Signal Intelligence) just because some people have wronged our goals,” it wrote.
In response to the seizure, Senior Public Prosecutor Benjamin Krause emphasizes the importance of action against “fast and unknown opportunities for money losses for any amount.”
“Crypto swapping is an essential element of the underground economy, which is used to hide funding increases from illegal activities such as hacking or trading on stolen card payment data, so they can be used for offenders,” he said.
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