This environment made it easy for cybercriminals to launder illicit proceeds without fear of detection. According to a statement from the Federal Criminal Police Office (BKA), "Exchange services that enable such anonymous financial transactions represent a critical component in the criminal value chain of cybercrime." Ransomware groups, darknet dealers, and botnet operators utilized these services to convert extorted ransoms and other criminal proceeds into legitimate currency.
Visitors to the seized exchanges are now redirected to a warning page titled "Operation Final Exchange," which alerts them to the false promises of anonymity made by the operators. The page states, "For years, these criminal exchange services have led you to believe that they are untraceable and do not store customer data. This is a hub that allows you to launder criminal proceeds without fear of prosecution."
The authorities have confiscated extensive data, including transaction records and user registration details, which will support future investigations and likely lead to further arrests. The most notable seized exchanges include:
- Xchange.cash: 410,000 users, 1.28 million transactions
- 60cek.org: 300,000 users, 900,000 transactions
- Bankcomat.com:250,000 users, 760,000 transactions
- Banksman.com: 280,000 users, 750,000 transactions
- Prostocash.com: 265,000 users, 470,000 transactions
- Multichange.net: 185,000 users, 430,000 transactions
As of now, no arrests have been made in connection with Operation Final Exchange. The BKA noted that identified cybercriminals are often protected by their countries of residence. However, the operators of the seized exchanges face charges of money laundering and operating illegal trade platforms under Sections 127 and 261 of the German Criminal Code (StGB), which could result in multi-year prison sentences.
Source:Cyware.
