Germany Seizes $28 Million, 13 ATMs in Crypto Crackdown

Aug 21, 2024, 11:45 AM

German authorities, led by the financial regulator BaFin, have conducted a nationwide operation targeting unlicensed cryptocurrency ATMs. The operation resulted in the seizure of nearly 25 million euros ($28 million) in cash and the confiscation of 13 crypto ATMs. The crackdown involved police and financial authorities and aimed to address illegal operations in the cryptocurrency sector. The raids took place across 35 locations, utilizing 60 emergency responders to ensure the success of the operation.