Germany cracks down on 47 crypto exchanges, citing illegal ties

47 Crypto Exchanges Closed In Germany Over Criminal Activity Allegations » News.ng

German authorities have shut down 47 cryptocurrency exchanges that were facilitating criminal activities, including money laundering.  The coordinated action was led by the Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA), marking a significant step in Germany’s efforts to fight cybercrime. The platforms in question were found to allow anonymous crypto transactions, enabling users to hide the origins…

Germany's Latest Crackdown: 47 Crypto Exchanges Shut Down For Criminal Activity

German law enforcement has made progress against cybercrime by closing 47 cryptocurrency exchanges engaged in money laundering and other illegal acts. The operation, conducted under the leadership of the Attorney General’s Office in Frankfurt, along with the Federal Criminal Police Office, was part of a broader effort to take down such platforms that did not follow the know-your-customer norms. These exchange platforms include Xchange Cash, 60ce…

Germany Shuts Down 47 Crypto Exchanges Linked to Cybercrime, Warns Users of Prosecution - CryptoShrypto

The German government has closed 47 cryptocurrency exchanges, accusing them of facilitating cybercriminal activities, including money laundering. These platforms allegedly allowed criminals to convert illicit funds into legitimate currencies, supporting an “underground economy” for cybercrime. The authorities have seized all related servers and data and are now shifting their focus to the users involved in the illegal activities. Germany’s feder…

Crypto Sweep: Germany Closes 47 Illegal Exchanges

The German police have recently closed down 47 unlicensed crypto exchanges in the country as part of a crackdown on crypto crime. The operation involved the Federal Criminal Police Office (BKA), the Central Office for Combating Internet Crime (ZIT), and the Frankfurt public prosecutor’s office. The regulators have accused the exchange operators of enabling money laundering on a massive scale due to non-adherence to AML policies. The crackdown f…

German authorities shutdown 47 crypto exchanges facilitating crime, seize servers, data

German authorities have shut down 47 cryptocurrency exchanges for their role in facilitating criminal activities, according to a joint statement from the Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA). The exchanges were deactivated after the authorities determined they had been involved in money laundering. The ZIT and BKA claim that the platforms allowed users to exchange crypto and other digital…

Germany Shuts Down 47 Illegal Crypto Exchanges, Seizes Millions

German authorities shut down 47 illegal crypto exchanges, combating money laundering. Crackdown on cybercrime continues with millions seized from illicit platforms. Commerzbank enters regulated crypto trading, offering Bitcoin and Ether services. German authorities have stepped up enforcement against unauthorized crypto exchange providers in the nation. The Federal Criminal Police Office (BKA), along with the Frankfurt Public Prosecutor’s Offic…