Germany seizes almost $28 million in cash in crypto ATM sting
Authorities seized 13 machines that had been operating without the necessary permits, posing a risk of money-laundering, according to the regulator
Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. Photo: REUTERS/Florence Lo/Illustration/File Photo
German authorities have seized almost 25 million euros ($28 million) in cash in a nationwide operation targeting cryptocurrency ATMs, the country's financial regulator BaFin said in a statement on Tuesday.
Authorities seized 13 machines that had been operating without the necessary permits, posing a risk of money-laundering, according to the regulator.
The ATMs had been used to trade bitcoin and other cryptocurrencies and were located in 35 different locations, the statement said.
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BaFin worked together with law enforcement and the German Bundesbank to conduct the operation.
