September 19, 2024
406
2 minutes of reading

German Authorities Seize Servers from Nearly 50 Crypto Exchanges

During the operation, servers from several Russian-language services were also seized. Authorities are launching cybercrime investigations using the collected user data.

Confiscation of Servers

Confiscation of hardware from cryptocurrency exchangers in Germany

Germany’s Federal Criminal Police Office has reported the confiscation of servers from 47 cryptocurrency exchanges. Law enforcement officials gained access to user data, including transaction records, IP addresses, and registration information. This data is set to be actively used in cybercrime investigations.

Anyone attempting to visit these exchange websites is now greeted with a grim message:

«That was your last exchange. Both backup and operational servers are now in our possession, along with your information, including IP addresses, transaction history, and registration details. From now on, we’re tracking you down — see you soon, offline».

All of these exchanges claimed to be «anonymous» and authorities believe that users were involved in money laundering operations. Exchange owners had assured clients that the location of their servers was undiscoverable and that no customer data was stored on them. As it turns out, this was far from the truth.

Clients using the BitHide business crypto wallet will never find themselves in such an unpleasant situation, and here’s why:

  • Dark Wing technology reliably hides the real IP address of the wallet. Using both Tor and VPN simultaneously, the IP address is changed three times before reaching the node, making it nearly impossible to track the real address.
  • The wallet’s software is installed on the client’s own server, meaning the user decides where it is safest to host their data.
  • The entire history of wallet usage is encrypted with a unique 512-bit key. As of today, there is no technology capable of breaking this encryption.

Use reliable products for managing cryptocurrency to ensure the safety of your assets and protect your privacy.

BitHide Team

Rating of this article

1 voice. Rating 5 / 5
  1. 5
  2. 4
  3. 3
  4. 2
  5. 1

Page Contents

Top articles

September 14, 2023
Articles
Hot wallets vs. cold wallets: What is the difference, and which is safer?
Discover the key differences between hot and cold wallets for cryptocurrency storage. Learn how each type ensures the...
Read more
May 2, 2024
Articles
Payment gateway: selection and selection criteria
Discover the essential criteria for selecting the perfect payment gateway. Learn about security, costs, features, and compatibility to...
Read more
November 1, 2024
Articles
2024 US Elections: How Political Changes Could Affect Crypto Regulations and Business
The 2024 US elections might bring big changes to the crypto market, Bitcoin future, and regulations. Find out...
Read more
October 16, 2024
Articles
What is a Withdrawal Address?
We explain the key features of cryptocurrency addresses.
Read more
November 14, 2023
Articles
How to accept crypto for your business
Learn how to easily accept crypto for your business with simple steps, secure payment solutions, and effective strategies...
Read more

Relatedarticles

December 30, 2024
Articles
How Chainalysis Crushed LockBit
How blockchain analysis helps solve complex cybercrimes.
Read more
December 23, 2024
Articles
No address blocks due to risky assets in six months with BitHide’s AML checks
Know your cryptocurrency's risk score to manage it effectively.
Read more
December 13, 2024
Articles
Divide and Conquer: How BitHide Sub-Wallets Helped an IT Company Automate Client Payment Management
Simplify your payment processes! Learn how BitHide sub-wallets automated client transaction accounting, boosti...
Read more

Got a question?

Ask them in the feedback form. A BitHide specialist will get back to you as soon as possible.