KYC Compliance Checker
Check Exchange Compliance
This tool checks whether a cryptocurrency exchange requires KYC (Know Your Customer) verification. Based on Operation Final Exchange, no-KYC exchanges are high-risk platforms used for money laundering and sanctions evasion.
Important: This tool uses a sample database of known exchanges. Actual compliance status may vary. If an exchange isn't listed, it might be a no-KYC service.
On September 19, 2024, German police didn’t just shut down a few shady crypto websites-they erased entire criminal networks in one coordinated strike. Operation Final Exchange wasn’t a warning. It was a message: We know who you are. We have your data. And we’re coming for you.
What Exactly Was Operation Final Exchange?
Operation Final Exchange was a massive, multi-jurisdictional operation led by Germany’s Federal Criminal Police (Bundeskriminalamt or BKA). It targeted 47 Russian-language cryptocurrency exchanges that operated without any identity checks-no names, no emails, no phone numbers. These were no-KYC exchanges, designed specifically for people who wanted to move money without leaving a trace. These platforms weren’t just anonymous. They were built for crime. They let users swap Bitcoin, Ethereum, and other coins directly for Russian rubles through sanctioned banks. That made them perfect for laundering money from ransomware attacks, darknet drug sales, and botnet operations. Criminals used them to clean up after hacking hospitals, schools, and small businesses. And they did it with zero oversight. The BKA didn’t just freeze accounts or issue fines. They seized everything: production servers, backup servers, development servers. All of them. Over 8 terabytes of data were pulled-user registrations, IP logs, transaction histories, internal chat logs. The operation didn’t just stop the exchanges. It captured the entire digital footprint of every user who ever used them. And then came the message posted on the seized sites: “We have found their servers and seized them - development servers, production servers, backup servers. We have their data - and therefore we have your data. Transactions, registration data, IP addresses. Our search for traces begins. See you soon.” That wasn’t a press release. That was a direct threat to tens of thousands of users.Why This Operation Was Different
Most crypto crackdowns are messy. Authorities take down one exchange, and the operators pop up a new one under a different name within days. That’s why previous operations-like the takedown of ChipMixer, which laundered €90 million-only slowed down criminals, not stopped them. Operation Final Exchange changed the game by going after all infrastructure at once. No backups. No mirrors. No fallbacks. This wasn’t a raid. It was a total system wipe. The psychological impact was just as important as the technical one. By directly messaging users, the BKA turned the anonymity these exchanges promised into a liability. Users who thought they were hidden now had to worry about their IP addresses being tied to real-world identities. People who used these services for privacy reasons-maybe to avoid surveillance in authoritarian countries-suddenly found themselves on a government watchlist. This was also the largest coordinated takedown of no-KYC exchanges in European history. Previous actions targeted one or two platforms. This hit 47 at the same time. The scale alone sent shockwaves through criminal networks.Who Was Targeted-and Who Got Hurt
The exchanges weren’t random. They all served Russian-speaking users. Many were linked to financial networks trying to bypass Western sanctions on Russia. Some were used by cybercriminal gangs based in Eastern Europe. Others were run by individuals in Russia, Belarus, or Central Asia who needed a way to cash out stolen crypto without raising red flags. The victims? Not just criminals. Legitimate users who valued privacy also got caught in the net. Some used these platforms to send money to family in Russia without triggering bank reporting rules. Others used them to protect their financial data from local surveillance. For them, the operation wasn’t justice-it was a loss of access to a tool they relied on. On Reddit’s r/cryptocurrency, users reported sudden loss of funds and panic. Telegram channels dedicated to privacy-focused crypto trading saw activity drop by 60% in the weeks after the takedown. Darknet vendors who used these exchanges to get paid confirmed they lost access to their primary cash-out method. Some switched to peer-to-peer trades or privacy coins like Monero-but those are slower, riskier, and harder to use. Meanwhile, compliance-focused users and exchanges celebrated. Platforms like Coinbase and Kraken saw increased traffic as people looked for safer, regulated alternatives. CoinGecko ratings for no-KYC services dropped sharply. Trust in unregulated crypto platforms took a major hit.
How They Did It-and What It Took
This wasn’t a solo effort. The BKA worked with Frankfurt’s Public Prosecutor’s Office, Europol, and international partners. They spent months mapping out the exchanges’ infrastructure, tracking server locations, and infiltrating criminal Telegram groups. Blockchain analytics firms like Chainalysis played a key role. They helped trace money flows between the exchanges and known ransomware wallets. By linking transaction patterns to past crimes, they gave investigators the evidence needed to justify the seizures. The operation required perfect timing. All 47 servers had to be seized within minutes of each other to prevent backups from activating. That meant coordinating with hosting providers across multiple countries-some in Eastern Europe, others in Asia-while avoiding alerting the operators. It also required legal precision. German authorities had to prove the exchanges were actively enabling sanctions evasion and money laundering under EU law. That meant collecting not just transaction data, but internal communications, support tickets, and even employee records.What Happened After
As of October 2025, no arrests have been publicly announced. But that doesn’t mean nothing is happening. The 8+ terabytes of data are still being analyzed. German prosecutors have confirmed they’re building cases against individuals linked to the exchanges-both operators and users. The data is being cross-referenced with other global investigations. Did a user from Ukraine send funds to a ransomware gang in North Korea? Did a Russian businessman use one of these exchanges to move money after sanctions were imposed? Those connections are now being uncovered. The operation has already changed how law enforcement thinks about crypto crime. The U.S. FBI and FinCEN are studying the model. The EU is pushing for similar coordinated actions across member states. Several countries have already started scanning for no-KYC exchanges on their soil. The crypto compliance market, worth $1.2 billion in 2024, is growing fast. Companies offering KYC tools, transaction monitoring, and blockchain forensics are seeing record demand. Regulators are no longer asking if they should act-they’re asking how fast they can scale.
