According to Cointelegraph, Russia’s Federal Security Service (FSB), in coordination with the Ministry of Internal Affairs, conducted raids on nine unregistered cryptocurrency exchanges within the Moscow International Business Center (Moscow City), arresting over 20 employees. The FSB accused these exchanges of serving as money laundering channels, converting funds stolen from victims of Russian phone scams into cryptocurrency and transferring them to accounts linked to诈骗 call centers in Ukraine. Investigations revealed that some couriers, aged between 18 and 25, were responsible for collecting cash from victims and delivering it to the exchanges for conversion into crypto; many of these young individuals came from various regions across Russia and had little to no financial literacy. The Russian Ministry of Internal Affairs has now launched a criminal investigation into large-scale fraud, a charge under Russian law punishable by up to 10 years in prison. The FSB stated that the investigation is ongoing, with further efforts underway to identify additional victims and assess compensation options.
Russia's FSB raids nine unregistered crypto exchanges in Moscow, arrests over 20 people
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Summary
The Russian FSB conducted AML operations in Moscow, raiding nine unregistered crypto exchanges and arresting over 20 individuals. The CFT investigation revealed that the exchanges were used to launder funds from phone fraud, converting cash into cryptocurrency for transfer to accounts linked to Ukraine. Couriers aged 18–25, many from rural areas, facilitated cash collection. The Ministry of Internal Affairs opened a criminal case for large-scale fraud, with penalties of up to 10 years. The FSB stated that the AML investigation is ongoing, with efforts underway to identify victims and assess compensation.
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