German authorities have shut down 47 cryptocurrency exchange services in an effort to combat illegal money laundering activities. The crackdown targeted platforms that allowed users to exchange conventional currencies and cryptocurrencies without verifying their identities. These exchanges enabled anonymous transactions, making it easier for criminals to hide the source of funds obtained through illegal activities. This operation is part of a broader effort to disrupt cybercrime infrastructure. Authorities also seized 13 crypto ATMs and nearly $28 million in cash from 35 locations across Germany for operating without licenses, posing money-laundering risks.



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