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In Germany, New Strategy Against Rogue Exchanges Bears First Fruits

Gabriel Vedrenne
Senior Reporter

Using a new, "logistics-based" strategy, German authorities have taken nearly 50 rogue cryptocurrency exchanges offline since the beginning of 2023, a year in which they seized more than double the amount of virtual assets than the previous four years combined. Platforms whose servers the Federal Criminal Police, or BKA, and Office for Combating Cybercrime, or ZIT, seized last month as part of "Operation Final Exchange" include BlaBlaChange, Cryptostrike, CrystalMoney and ExchangeKey as well as Xchange.cash, which handled nearly 1.3 million transactions for 400,000 users since going online in 2012. The two agencies also took down Baksman.com, Prostocash.com, Bankcomat.com and 60cek.org,...

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