The CIA and West German BND covertly co-owned Swiss cipher-machine manufacturer Crypto AG from 1970, selling rigged encryption hardware to approximately 120 governments and militaries worldwide. For decades the agencies read the encrypted traffic of foreign governments while those governments believed their communications were secure. A joint WaPo/ZDF/SRF investigation published 11 February 2020 — drawing on a classified internal CIA history called the Minerva Files — confirmed the operation. The BND exited in 1993 citing compromise risk; the CIA continued as sole owner until 2018. The operation is assessed as confirmed by primary documentation.