German criminal and cybersecurity investigators have shut down 47 cryptocurrency exchanges accused of enabling large-scale money laundering, authorities announced on Thursday. The Federal Criminal Police Office (BKA), the Central Office for Combating Internet Crime (ZIT), and the Frankfurt public prosecutor’s office spearheaded the operation.

The operators of these now-defunct exchange services were alleged to have deliberately bypassed legal anti-money laundering requirements. The platforms allowed users to quickly and anonymously exchange cryptocurrencies without registration or identity verification, thereby concealing the origin of criminally obtained funds.

According to the investigators, the services were widely used by cybercriminals, including darknet dealers and botnet operators, to launder ransom money and other illicit proceeds. Authorities emphasized that such anonymous financial transactions are key facilitators of cybercrime in Germany.