**German Authorities Shut Down 47 Crypto Exchanges**

Germany has shut down 47 cryptocurrency exchanges, accusing them of enabling an "underground economy" for cybercriminals. Authorities claim these platforms failed to comply with anti-money laundering laws, allowing criminals to convert illicit funds into regular currency.

- **Key Allegations**: Users include ransomware operators, botnet controllers, and black market traders.

- **Government Action**: Seized servers and data, warning users of ongoing investigations.

- **Global Reach**: Many suspects reside abroad, complicating prosecution efforts.

One notable exchange, Xchange.cash, had processed 1.3 million transactions since 2012. Other platforms like 60cek.org and Baksman.com were also seized.