The German police have recently closed down 47 unlicensed crypto exchanges in the country as part of a crackdown on crypto crime. The operation involved the Federal Criminal Police Office (BKA), the Central Office for Combating Internet Crime (ZIT), and the Frankfurt public prosecutor’s office.
The regulators have accused the exchange operators of enabling money laundering on a massive scale due to non-adherence to AML policies. The crackdown focused on the exchanges that supported anonymous transactions, making it easier for criminals to launder the money.
The researchers also established that these platforms did not require registration and identification, facilitating the conversion of cryptocurrencies without supervision. As per the law enforcement agencies, these platforms acted as marketplaces for darknet dealers, botnet operators, and other cyber criminals cleaning dirty money.
The confiscated servers contain many records, transactions, registrations, and IP add
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