FSB Shuts Down Nine Unregistered Crypto Exchanges in Moscow City Over Fraud Proceeds

The Federal Security Service (FSB) of Russia has shut down nine unregistered cryptocurrency exchanges in Moscow over alleged money laundering linked to fraud proceeds, the agency said. More than 20 employees were detained during raids at the Moscow International Business Center, known as Moscow City. The FSB said the exchanges converted money stolen from Russian victims of telephone scams into cryptocurrency and transferred the funds to accounts linked to Ukraine-based operators. The operation, conducted with Russia’s Interior Ministry, also targeted couriers who authorities said collected cash from victims and delivered it to the exchanges for conversion into crypto. Russia’s Interior Ministry has opened a criminal investigation into large-scale fraud with authorities continuing to identify victims and assess potential compensation. Under the Russian crypto law, individuals and entities involved in organizing or facilitating crypto transactions without registration with the central bank could face criminal penalties. These include fines of up to about $4,000 and prison terms of up to four years for basic violations. REGULATION | Russia Introduces Crypto Bill With Severe Criminal Penalties and Prison Time for Unregistered Operations Harsher punishments are proposed for large-scale offenses or cases involving organized groups. In such instances, penalties could rise to as much as seven years in prison or compulsory labor for up to five years, along with fines of up to roughly $13,100 or equivalent income-based penalties. The crackdown comes as Russia moves to bring cryptocurrency trading under a formal regulatory framework, with new rules taking effect in 2026. REGULATION | Russian President Signs Russia’s First Comprehensive Crypto Law Sign up forBitKE updatesfor all thelatest developments on crypto regulation globally. Join our WhatsApp channelhere. Follow us onXfor the latest posts and updates Join and interact with ourTelegram community ________________

Russia cracks down on 9 crypto exchanges in Moscow City Russia has shut down nine unregistered crypto exchanges in Moscow, with the FSB alleging they helped move scam proceeds abroad through Ukrainian call centers. Russia’s Federal Security Service (FSB) has raided nine unregistered crypto exchange services in Moscow over alleged money laundering involving fraud proceeds that authorities linked to Ukraine-based scam call centers. The agency said it detained more than 20 employees at the Moscow International Business Center (Moscow City) as part of an operation targeting channels allegedly used to move illicit funds abroad through crypto assets, according to an official statement on Friday. The FSB 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 was carried out jointly by the FSB and Russia’s Interior Ministry. Authorities said some couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges for conversion into crypto. The FSB said young people from Russian regions were recruited to work at the exchanges despite having limited financial literacy. The Interior Ministry launched a criminal investigation into large-scale fraud, an offense punishable by up to 10 years in prison under Russian law. The FSB said it is continuing to identify victims and assess potential compensation. Related: Russian president signs crypto law, core rules take effect in 2026

Rusia cerró nueve exchanges de criptomonedas no registrados en Moscú, mientras el FSB alegó que ayudaban a trasladar al extranjero los fondos obtenidos mediante estafas a través de centros de llamadas ubicados en Ucrania. El Servicio Federal de Seguridad de Rusia (FSB) allanó nueve servicios de exchange de criptomonedas no registrados en Moscú por presunto lavado de dinero relacionado con fondos provenientes de estafas que, según las autoridades, estaban vinculadas a centros de llamadas fraudulentos con base en Ucrania. La agencia informó que detuvo a más de 20 empleados en el Centro Internacional de Negocios de Moscú (Moscow City) como parte de una operación dirigida contra canales presuntamente utilizados para trasladar fondos ilícitos al extranjero mediante criptoactivos,segúnun comunicado oficial publicado el viernes. El FSB afirmó que los exchanges convertían en criptomonedas el dinero robado a víctimas rusas de estafas telefónicas y lo transferían a cuentas pertenecientes a lo que describió como operadores ucranianos. La operación fue llevada a cabo de forma conjunta por el FSB y el Ministerio del Interior de Rusia. Las autoridades señalaron que algunos mensajeros, de entre 18 y 25 años, recogían efectivo de las víctimas y lo entregaban a los exchanges para convertirlo en criptomonedas. El FSB indicó que jóvenes de distintas regiones de Rusia fueron reclutados para trabajar en estos exchanges pese a contar con una alfabetización financiera limitada. El Ministerio del Interior abrió una investigación penal por fraude a gran escala, un delito sancionado con hasta 10 años de prisión según la legislación rusa. El FSB indicó que continúa identificando a las víctimas y evaluando posibles compensaciones. Aclaración: La información y/u opiniones emitidas en este artículo no representan necesariamente los puntos de vista o la línea editorial de Cointelegraph. La información aquí expuesta no debe ser tomada como consejo financiero o recomendación de inversión. Toda inversión y movimiento comercial implican riesgos y es responsabilidad de cada persona hacer su debida investigación antes de tomar una decisión de inversión.