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FSB raids in Moscow City
Russia’s Federal Security Service (FSB) shut down nine unregistered cryptocurrency exchanges in Moscow, alleging the platforms were linked to money laundering involving fraud proceeds.
“shut down nine unregistered cryptocurrency exchanges in Moscow”
The FSB said the raids detained more than 20 employees at the Moscow International Business Center, known as Moscow City, and were conducted with Russia’s Interior Ministry.
The agency alleged the exchanges converted money stolen from Russian victims of telephone scams into cryptocurrency and transferred the funds to accounts linked to Ukraine-based operators.
Cointelegraph reported the FSB alleged the exchanges helped move scam proceeds abroad through Ukrainian call centers, and said the operation targeted channels used to transfer illicit funds via crypto assets.
Couriers and alleged handlers
Authorities said some couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges for conversion into crypto.
BitKE said the FSB and Russia’s Interior Ministry also targeted couriers who authorities said collected cash from victims and delivered it to the exchanges for conversion into crypto.
Cointelegraph.es said the FSB alleged the exchanges transferred funds to accounts belonging to what it described as operators ucranianos, tied to fraudulent call centers based in Ukraine.
The FSB said it is continuing to identify victims and assess potential compensation, while Russia’s Interior Ministry opened a criminal investigation into large-scale fraud.
Penalties and regulation timeline
Under Russia’s crypto law, BitKE said individuals and entities involved in organizing or facilitating crypto transactions without registration with the central bank could face criminal penalties including fines of up to about $4,000 and prison terms of up to four years for basic violations.
“fines of up to about $4,000 and prison terms of up to four years”
BitKE also said harsher punishments are proposed for large-scale offenses or cases involving organized groups, with penalties rising 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.
The BitKE article added that the crackdown comes as Russia moves to bring cryptocurrency trading under a formal regulatory framework, with new rules taking effect in 2026.
Cointelegraph.es reported that the Interior Ministry opened a penal investigation for fraud a gran escala, described as a crime sanctioned with up to 10 years of prison under Russian law.
