Overview
- Authorities opened proceedings against two 29-year-old suspects after searches in recent days at homes and business premises in Stuttgart and Frankfurt.
- Investigators allege the main suspect ran two mixing services for Bitcoin and Ethereum from 2017 to 2022 and collected per-transaction commissions.
- The established Ethereum transaction volume totals about $140 million, with a portion suspected of money laundering though precise amounts remain withheld.
- Searches led to the seizure of numerous electronic devices, storage media, business records, cryptocurrency wallets, and other assets for forensic analysis.
- The case is being pursued under money-laundering statutes, the German Banking Act, and potential tax offenses; both men remain at liberty and officials have not said how they were identified.