Two German governmental agencies out of the Frankfurt am Main Public Prosecutor's Office shut down 47 illicit exchanges, some of which using cryptocurrency. 

The Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA) took down the exchanges, which were hosted in Germany. The law enforcement agencies argue that the platforms allegedly committed money laundering by acquiring and concealing the origin of illicit funds, according to a Thursday release. 

The exchanges also eschewed know-your-customer protocols to check a user's identity before allowing digital asset transactions. The anonymous origin of these funds played a part in the movement of illicitly obtained funds, the release continues. As part of the investigation, the ZIT and BKA secured user and transaction data from the exchanges that is used to continue fighting against cybercrime. 

Earlier this year, the German government seized 50,000 BTC (valued at $2 billion at the time) from the now-defunct illegal streaming service Movie2K, The Block previously reported. 

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