• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Germany Shuts Down 47 Cryptocurrency Exchanges for Involvement in Criminal Activities

Germany Shuts Down 47 Cryptocurrency Exchanges for Involvement in Criminal Activities

user avatar

by Giorgi Kostiuk

a year ago

  1. Actions Against Anonymous Crypto to Fiat Transactions
  2. Germany's Recent Cybercrime Prevention Successes
  3. Regulatory Measures and Crime Prevention

    4. The Bundeskriminalamt (BKA), Germany's central criminal investigation agency, along with the Frankfurt am Main Public Prosecutor’s Office, announced the closure of 47 cryptocurrency exchanges used for anonymous crypto to fiat transactions.

    Actions Against Anonymous Crypto to Fiat Transactions

    The shutdown was imposed due to the exchanges' failure to comply with anti-money laundering (AML) regulations and lack of proper know-your-customer (KYC) procedures. Authorities accuse these platforms of concealing the origin of criminally obtained funds on a large scale, effectively operating as criminal trading platforms.

    BKA and ZIT were able to secure extensive user and transaction data from the switched-off exchange services.

    Germany's Recent Cybercrime Prevention Successes

    This operation is part of a larger strategy to combat cybercrime by targeting the infrastructure that supports illegal activities. German authorities have highlighted several recent successes in their fight against cybercrime, including the seizure of ChipMixer’s server infrastructure in 2023, securing approximately 90 million euros.

    Regulatory Measures and Crime Prevention

    Germany has established a detailed regulatory framework for cryptocurrencies, with strict anti-money laundering regulations making KYC mandatory to prevent money laundering and terrorist financing activities.

    The operation underscores the determination of German authorities to combat cybercrime and strengthen the security of the country's financial system. Shutting down exchanges and securing data will be significant steps in preventing illegal activities.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

SpaceX Acquires xAI to Tackle AI Power Challenges

chest

SpaceX has acquired xAI, merging rocket launch services with AI development to tackle the limitations of Earth-based infrastructure.

user avatarDiego Alvarez

Starlink Revenue Expected to Fund xAI's Operations After Merger

chest

Starlink revenue is expected to support xAI's operations after its acquisition by SpaceX.

user avatarKenji Takahashi

BlockDAG Launch Dashboard Set to Go Live on February 2

chest

BlockDAG will launch a new dashboard on February 2, providing users with a fully integrated system for managing their investments and preparing for exchange access.

user avatarMaria Fernandez

Referral Strategies Become Key to Success in ZKP Auction Stage 2

chest

Referral strategies are crucial for success in the ZKP presale auction Stage 2 as token availability tightens.

user avatarRajesh Kumar

Stage 2 of ZKP Presale Auction Heightens Competition with Scarcity

chest

Stage 2 of the ZKP presale auction reduces daily token allocation, intensifying competition and emphasizing referral strategies.

user avatarLuis Flores

SPX6900 and Brett Gain Traction in the Meme Coin Market

chest

SPX6900 and Brett are gaining traction in the meme coin market with increased trading activity and community support.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.