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Russia shuts nine unregistered crypto exchanges in Moscow City
Russia’s FSB says more than 20 employees were detained after raids linked alleged crypto-based money laundering to Ukraine-based scam call centers.
Russia has shut down nine unregistered crypto exchange services in Moscow, according to Cointelegraph, citing an operation by the Federal Security Service (FSB) targeting alleged crypto channels used to move proceeds from fraud abroad.
The FSB said it raided the Moscow International Business Center, detained more than 20 employees, and alleged the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency before transferring it to accounts tied to what it described as Ukrainian handlers.
Authorities said couriers, aged 18 to 25, collected cash from victims and delivered it for conversion into crypto, while the FSB also alleged that people from Russian regions were recruited to work at the exchanges despite limited financial literacy.
Cointelegraph reported that the joint operation involved the FSB and Russia’s Interior Ministry, which launched a criminal investigation into large-scale fraud that can carry up to 10 years in prison under Russian law, with the agencies continuing to identify victims and assess compensation.