Taking a major action regarding the stolen funds in Bybit Hack, Germany seized $ 38 million cryptocurrency from the Exch platform. It is considered to be Germany’s third largest crypto seize so far. In this operation, many cryptocurrencies were seized like Bitcoin, Etreum, LiteCoin and Sprint. The German authorities not only seized the Digital Asset of Exch, but also sealed its server infrastructure, which had more than 8 terabytes of data.
What is EXCH and what was its role?
EXCH was a crypto swapping service, operating since 2014, but has been closed from May 1. This platform allowed users to convert a cryptocurrency into another cryptocurrency, but did not follow any Anti-Cash Laundering rules. Investigations have revealed that about $ 1.9 billion crypto transactions were conducted through this platform, most of which were connected to the transfer criminal source. It had $ 1.4 billion in February 2025 Bybit hack The amount related to it is also included.
Zachxbt made a big disclosure
Crypto Investigator ZachxBT had revealed that the $ 38 million funds from Bybit were launched through EXCH. In addition, Exch’s name has also been revealed in events such as multisig, fixedfloat and Genesis Hack. He reported that Lazarus Staff converted 5,000 eths to Bitcoin through exch platforms after bybit hack and moved funds using Chainflip Bridge.
Bybit is continuously trying fund recovery
Since Hack, bybit has been continuously trying to recover funds. For this, bybit to track stolen funds Lazarusbounty platform Also launched. This platform was started with the objective of rewarding to track the stolen amount by hacking and to help in their recovery. Along with this, bybit had also told that 68% of stolen funds are still trasable and they are constantly working to seize them.
Conclusion
The working style of platforms like Exch shows that there are still loops in the world of Crypto which are taking advantage of cyber criminals. But this action of the German Authority is an indication that now law enforcement agencies are more alert and are working on better implementation of regulation in Crypto market. Seizing funds associated with big hacks like bybit is not only a technical Victory, but also shows that Crypto’s ennancy is no longer a means of protecting against law. In the coming time, such platforms are likely to be monitored and strict.
