9 May 2025, 09:42

Germany Seizes $38M From Crypto Platform Suspected of Laundering Bybit, Genesis Hack Proceeds

German authorities shut down crypto exchange eXch, seizing 34 million euros ($38 million) in tokens and more than 8 terabytes of data in one of the country’s largest law-enforcement actions targeting suspected crypto laundering. The Frankfurt Public Prosecutor’s Office and the Federal Criminal Police Office (BKA) dismantled the eXch's server infrastructure on April 30, just one day before the platform's operators had planned to shut it down, according to statement released on Thursday. The authorities cited the platform’s suspected use in laundering hundreds of millions in stolen crypto from major breaches — including the $1.5 billion Bybit hack , the $243 million Genesis creditor theft and numerous phishing drainer campaigns. The platform "specifically advertised on platforms of the criminal underground economy that it did not implement anti-money laundering measures," according to an automated translation of the release. "Users were neither required to identify themselves to the service, nor was user data stored there. Crypto swapping via eXch was therefore particularly suitable for concealing financial flows." The crackdown follows years of allegations that eXch, which has operated since 2014 at “eXch(dot)cx” and other domains, intentionally ignored anti-money laundering protocols, maintained no user identification requirements and marketed itself on darknet forums as an anonymous, high-speed crypto-mixing service. The service supported swaps between bitcoin ( BTC ), ether ( ETH ), litecoin (LTC) and dash (DASH) without any registration. The investigators say that over $1.9 billion in crypto flowed through eXch during its lifetime, much of it believed to be criminal proceeds. The takedown adds to a growing list of regulatory strikes on illicit crypto infrastructure across Europe, following similar crackdowns on services like ChipMixer, Sinbad and Hydra over the past two years.

9 May 2025, 09:33

Market Analysis Report (09 May 2025)

Coinbase Shares Dip After Q1 Earnings Miss as Market Volatility Dampens Trading | Meta Revisits Stablecoin Strategy Three Years After Diem Collapse Amid Big Tech’s Crypto Shift | Trump’s Memecoin Sparks Senate Clash, Blocking Crypto-Backed Stablecoin Bill

9 May 2025, 09:23

Frankfurt authorities seize $38.2m from eXch due to money laundering allegations

Frankfurt authorities have suspended operations for eXch and seized its crypto assets valued $38.2 million. The platform allegedly facilitated money laundering for major crypto heists including the Bybit and Multisig hacks. According to an official statement issued on May 9, the Frankfurt Prosecutor’s Office announced it had shut down the crypto exchange platform, seizing an array of crypto assets worth 34 million euros or equal to $38.2 million. These assets consisted of a mix of Bitcoin ( BTC ), Ethereum ( ETH ), Litecoin ( LTC ), and Dash ( DASH ). The prosecutor’s office dubbed it the “third-largest seizure of crypto assets in the history of the BKA.” Authorities accused the team behind the platform of commercial money laundering and operating a criminal trading platform. According to renowned crypto investigator ZachXBT, the platform was used to launder hundreds of millions of funds from some of the largest crypto hacks in history. It was allegedly used to launder funds from the $1.5 billion Bybit hack , the $1.4 billion Multisig hack, the FixedFloat exploit, and the theft of around $243 million from Genesis Creditor, as well as various phishing scams over the past few years. You might also like: Lazarus Group spies set up U.S. shell companies to dupe crypto developers: report The internet sleuth claimed the platform had repeatedly refused to block addresses and freeze orders related to these hacks. Director of the Federal Criminal Police Office and Head of the Cybercrime Division, Carsten Meywirth has confirmed that the bureau has secured “a record-breaking sum of millions in incriminating cryptocurrencies” as well as effectively shut down the platform. “We will continue to increase the risk of loss for the underground economy with all the means at our disposal. Our goal remains to hold those responsible accountable,” said Meywirth. How did eXch allegedly launder hacking funds? eXch is known as a crypto exchange service that allowed customers to swap between crypto assets easily. It was made accessible on both the public web as well as the dark web. In fact, it has been specifically marketing itself on sites linked to the criminal underground. It appealed to dark web operators because unlike most crypto exchange platforms, it did not abide to anti-money laundering measures. This meant that users did not have to identify themselves or submit Know-Your-Customer verification. The platform also claimed it does not store user information. Therefore, the platform made it particularly increasingly easy for users to cover their financial tracks. Since it was established in 2014, the platform has facilitated around $1.9 billion worth of crypto transactions. Authorities suspect the platform has been accepting Bitcoin originating from illegal activity. Not only that, the Frankfurt law enforcement have found evidence that the platform may have been used to launder a portion of the $1.5 billion of stolen funds from the Bybit hack. On Feb. 21, crypto exchange Bybit suffered one of the largest exploits in the web3 space. The hackers were able to extract around $1.46 billion from Bybit’s ETH cold wallet. According to Bybit CEO Ben Zhou, nearly 30% of the funds stolen from Bybit can no longer be tracked. Meanwhile, he believes as much as 84.5% have been converted to Bitcoin via cross-chain liquidity protocol THORchain . Read more: THORChain core dev leaves after failed vote to block hacker transactions

9 May 2025, 09:20

Binance Alpha to Launch Doodles (DOOD) Trading and DOODUSDT Perpetual Contract with 50x Leverage Tonight

On May 9th, COINOTAG News reported that Binance Alpha is set to initiate trading for Doodles (DOOD) tonight at 21:00 UTC+8. This strategic move underscores Binance’s commitment to enhancing its

9 May 2025, 09:20

Binance Airdrop Alert: DOOD Tokens for Meme Coin Holders Now Live

The post Binance Airdrop Alert: DOOD Tokens for Meme Coin Holders Now Live appeared first on Coinpedia Fintech News The hype around Doodles (DOOD) just got real. Binance has officially confirmed the DOOD airdrop, unveiling detailed eligibility rules that benefit select meme coin holders. The crypto giant also announced the launch of DOOD futures trading, signaling major backing for the token. The announcement comes as the broader crypto market turns green , with Bitcoin trading at $102,000—setting the stage for new tokens like DOOD to gain traction. Who’s Getting Free DOOD Tokens? AIRDROP 1 In a May 9 update, Binance stated that holders of these meme coins will be eligible: Mubarak (MUBARAK) CZ’s Dog (BROCCOLI714) Baby DogeCoin (1MBABYDOGE) Test (TST) The snapshot was taken on May 7 at 00:00 UTC, and tokens will be dropped into eligible users’ Spot wallets. Binance will reward the top 40,000 users with the highest combined holdings. AIRDROP 2 A second round of airdrops will go to KOMA holders, with the top 10,000 wallets qualifying. KYC verification is mandatory to claim this airdrop. Binance is going all in by launching DOODUSDT perpetual contracts with up to 50x leverage, starting May 9 at 09:05 ET. This gives traders a chance to tap into DOOD’s momentum with more flexibility. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Coinbase To Acquire Deribit Exchange for $2.9B: Here is What it Means for Crypto Market , How to Qualify for the Airdrop? To participate, ensure your eligible meme coins are stored in your Binance Spot Wallet. Tokens in Margin, Earn, or other wallets may not qualify. Keep an eye on Binance’s app or announcements page for snapshot confirmations and updates. Meanwhile, Doodles NFTs are seeing a notable surge in sales volume, adding further excitement to the entire Doodles ecosystem just as the token launches. Final Thoughts This DOOD airdrop is more than free tokens—it reflects Binance’s growing focus on small, experimental crypto projects. 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To qualify, store eligible meme coins in your Binance Spot Wallet. The snapshot was taken on May 7, 2025, and updates are available on Binance. What is the second round of DOOD airdrop eligibility? The second round targets KOMA holders, with the top 10,000 wallets eligible. KYC verification is required to claim the airdrop.

9 May 2025, 09:19

Bitcoin Sees Surge in Institutional Confidence, Deribit-Listed BTC Options Market Reveals

Bitcoin's (BTC) rally is gaining momentum, with institutions stepping up their exposure to the leading cryptocurrency through Deribit's BTC options market. "Panning out over just the last week shows a much bigger sign of institutional positioning on BTC," Deribit said on X Friday, noting the bullish flows in the BTC options. The exchange has seen robust buying of call options at the $110,000 strike expiring in June and July and calendar spreads involving a long position in the $140,000 strike call expiring at the end of September and a short position in the $170,000 strike call expiring at the end of the year. The demand for the $110,000 strike call indicates expectations for a continued price rise in the coming weeks, with potential for an extended rise to at least $140,000. A call option gives the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market. The exchange added that the bullish flows also included a roll over of long positions in May expiry to July expiries at strikes ranging from $110,000 to $115,000. CoinDesk data show BTC topped $104,000 Thursday, marking a near 40% recovery from the early April lows under $75,000, amid optimism from the U.S.-U.K. trade deal and consistent inflows into the spot ETFs. Technical charts point to more gains ahead. Ether, the native token of Ethereum's blockchain, has risen over 30% to $2,411 in two days, marking a bullish breakout on technical charts. The development has triggered interest in bullish ETH plays on Deribit, with traders snapping up the June expiry calls at $2,400 and longer duration call spreads betting on gains up to $2,600-$2,800.