Russia Cracks Down on 9 Crypto Exchanges in Moscow Over Money Laundering Ties to Ukraine
Russia's Federal Security Service (FSB) has conducted a major operation in Moscow, shutting down nine unregistered cryptocurrency exchanges and detaining over 20 employees. Russian authorities allege these platforms were used to launder money from phone scams, converting stolen funds into cryptocurrency and transferring them to accounts linked to Ukrainian handlers.
The operation marks a new front in the cyber warfare between Russia and Ukraine, with Russian authorities increasingly vigilant about cryptocurrency use for money laundering purposes. The raid at the Moscow International Business Center highlights the government's growing concern about capital flight and the potential use of digital assets to circumvent international sanctions, reinforcing Russia's regulatory stance against the cryptocurrency sector.
According to an official statement released on Friday, the agency said the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency and transferred it to accounts belonging to what it described as Ukrainian handlers. The operation, carried out at the Moscow International Business Center (Moscow City), targeted channels allegedly used to move illicit funds abroad through crypto assets.
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