German Authorities Shut Down 47 Crypto Exchanges in Cybercrime Crackdown

Sep 20, 2024, 12:32 AM

German authorities have shut down 47 cryptocurrency exchanges suspected of being involved in criminal activities, including money laundering. The operation was led by the German Attorney General's Office in Frankfurt and the Federal Criminal Police Office (BKA). The exchanges are accused of deliberately failing to fulfill their legal obligations, which facilitated their use by ransomware gangs and other criminal entities. This action is part of a broader cybercrime crackdown.