German Authorities Shut Down 47 Crypto Exchanges in Crackdown on Money Laundering and Ransomware Gangs

Sep 20, 2024, 02:05 AM

German authorities have shut down 47 cryptocurrency exchanges allegedly involved in criminal activities, including money laundering and supporting ransomware gangs. The operation was conducted by the German Attorney General's Office in Frankfurt and the Federal Criminal Police Office (BKA). The exchanges are accused of supporting an 'underground economy' for cybercriminals by facilitating anonymous transactions. This crackdown is part of a broader effort to combat cybercrime and illegal financial activities.