^^ And if I'm not mistaken, there are a lot of shady Estonian exchanges before, during the surge around 2018-2019 and probably they could have just rebranded themselves and still continue to be a safe haven for criminals.
As per reports, there are a lot of seize data, so maybe in the next couple of months, we might hear about certain groups or entities being charge in absentia because of this huge effort by the German government. Might be better if they did this early, but in any case, still a great job from them.
Topic: 47 crypto exchange shutdown by Germany (Read 38 times)
German government has shutdown 47 cryptocurrency exchange services hosted in their country. They are seized because according to the German authorities they are facilitating illegal money laundering activities for cyber criminals.
https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html
Most notable of them as far as users and transactions are, Xchange.cash itself has been in existence since 2012.
Xchange.cash – over 410,000 users and 1,280,000 transactions
60cek.org – over 300,000 users and 900,000 transactions
Bankcomat.com – over 250,000 users and 760,000 transactions
Banksman.com – over 280,000 users and 750,000 transactions
Prostocash.com – over 265,000 users and 470,000 transactions
Multichange.net – over 185,000 users and 430,000 transactions
You can find the complete list here: https://www.finalexchange.de/en
No arrest has been made yet according to the report.
Anyone here is familiar or at least have used those sites before?
I am familiar with Prostocash and Multichange, they were listed on Bestchange and when I wanted to exchange my crypto, I have visited these websites but thanks god I haven't used them, I didn't know if they were into illegal activities but the reason why I didn't use them was that these websites didn't look attractive/professional. They were very basic html/css and by look you could tell that each website on their own were run by an individual. Quote
The Frankfurt am Main Public Prosecutor's Office - Central Office for Combating Internet Crime ( ZIT ) - and the Federal Criminal Police Office ( BKA ) have shut down 47 exchange services hosted in Germany that were being used for criminal purposes. These were platforms on which conventional currencies and cryptocurrencies could be exchanged.
The operators of the now-deactivated exchange services are accused of knowingly concealing the origin of criminally obtained funds on a large scale through inadequate implementation of legal requirements for combating money laundering ( so-called know - your - customer principle), and thus of having committed money laundering and operating criminal trading platforms on the Internet in accordance with Sections 127, 261 Paragraph 1 Sentence 1 No. 2 and Paragraph 4 of the German Criminal Code .
Specifically, the exchange services enabled exchange transactions without going through a registration process and without checking proof of identity ( so-called know-your- customer principle). The offer was aimed at exchanging cryptocurrencies for other crypto or digital currencies quickly, easily and anonymously in order to conceal their origin.
The operators of the now-deactivated exchange services are accused of knowingly concealing the origin of criminally obtained funds on a large scale through inadequate implementation of legal requirements for combating money laundering ( so-called know - your - customer principle), and thus of having committed money laundering and operating criminal trading platforms on the Internet in accordance with Sections 127, 261 Paragraph 1 Sentence 1 No. 2 and Paragraph 4 of the German Criminal Code .
Specifically, the exchange services enabled exchange transactions without going through a registration process and without checking proof of identity ( so-called know-your- customer principle). The offer was aimed at exchanging cryptocurrencies for other crypto or digital currencies quickly, easily and anonymously in order to conceal their origin.
https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html
Most notable of them as far as users and transactions are, Xchange.cash itself has been in existence since 2012.
Xchange.cash – over 410,000 users and 1,280,000 transactions
60cek.org – over 300,000 users and 900,000 transactions
Bankcomat.com – over 250,000 users and 760,000 transactions
Banksman.com – over 280,000 users and 750,000 transactions
Prostocash.com – over 265,000 users and 470,000 transactions
Multichange.net – over 185,000 users and 430,000 transactions
You can find the complete list here: https://www.finalexchange.de/en
No arrest has been made yet according to the report.
Anyone here is familiar or at least have used those sites before?
I didn't know if these exchanges were hosted in Germany, I thought they were hosted in Russia. Prostocash, Prosto (rus: пpocтo) is a Russian word and means simple. Prosto cash would be translate like simply cash.
According to bestchange, prostocash and multichange, both are Estonian exchanges.
Of course I have never used it because I am not from that country.
If the closure is due to criminal purposes, I support the government's actions there if it has been proven that it is criminal in nature and does not have an official permit to operate.
The rest I can only follow how it develops even though it is not that important because my domicile is not in Germany.
If the closure is due to criminal purposes, I support the government's actions there if it has been proven that it is criminal in nature and does not have an official permit to operate.
The rest I can only follow how it develops even though it is not that important because my domicile is not in Germany.
German government has shutdown 47 cryptocurrency exchange services hosted in their country. They are seized because according to the German authorities they are facilitating illegal money laundering activities for cyber criminals.
https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html
Most notable of them as far as users and transactions are, Xchange.cash itself has been in existence since 2012.
Xchange.cash – over 410,000 users and 1,280,000 transactions
60cek.org – over 300,000 users and 900,000 transactions
Bankcomat.com – over 250,000 users and 760,000 transactions
Banksman.com – over 280,000 users and 750,000 transactions
Prostocash.com – over 265,000 users and 470,000 transactions
Multichange.net – over 185,000 users and 430,000 transactions
You can find the complete list here: https://www.finalexchange.de/en
No arrest has been made yet according to the report.
Anyone here is familiar or at least have used those sites before?
Quote
The Frankfurt am Main Public Prosecutor's Office - Central Office for Combating Internet Crime ( ZIT ) - and the Federal Criminal Police Office ( BKA ) have shut down 47 exchange services hosted in Germany that were being used for criminal purposes. These were platforms on which conventional currencies and cryptocurrencies could be exchanged.
The operators of the now-deactivated exchange services are accused of knowingly concealing the origin of criminally obtained funds on a large scale through inadequate implementation of legal requirements for combating money laundering ( so-called know - your - customer principle), and thus of having committed money laundering and operating criminal trading platforms on the Internet in accordance with Sections 127, 261 Paragraph 1 Sentence 1 No. 2 and Paragraph 4 of the German Criminal Code .
Specifically, the exchange services enabled exchange transactions without going through a registration process and without checking proof of identity ( so-called know-your- customer principle). The offer was aimed at exchanging cryptocurrencies for other crypto or digital currencies quickly, easily and anonymously in order to conceal their origin.
The operators of the now-deactivated exchange services are accused of knowingly concealing the origin of criminally obtained funds on a large scale through inadequate implementation of legal requirements for combating money laundering ( so-called know - your - customer principle), and thus of having committed money laundering and operating criminal trading platforms on the Internet in accordance with Sections 127, 261 Paragraph 1 Sentence 1 No. 2 and Paragraph 4 of the German Criminal Code .
Specifically, the exchange services enabled exchange transactions without going through a registration process and without checking proof of identity ( so-called know-your- customer principle). The offer was aimed at exchanging cryptocurrencies for other crypto or digital currencies quickly, easily and anonymously in order to conceal their origin.
https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html
Most notable of them as far as users and transactions are, Xchange.cash itself has been in existence since 2012.
Xchange.cash – over 410,000 users and 1,280,000 transactions
60cek.org – over 300,000 users and 900,000 transactions
Bankcomat.com – over 250,000 users and 760,000 transactions
Banksman.com – over 280,000 users and 750,000 transactions
Prostocash.com – over 265,000 users and 470,000 transactions
Multichange.net – over 185,000 users and 430,000 transactions
You can find the complete list here: https://www.finalexchange.de/en
No arrest has been made yet according to the report.
Anyone here is familiar or at least have used those sites before?
Jump to: