FSB Cracks Down on Moscow-Based Crypto Laundering Ring

Russian authorities have dismantled a major cryptocurrency laundering ring operating in Moscow's business district. The joint operation by the Federal Security Service (FSB) and the Ministry of Internal Affairs (MVD) targeted nine foreign-coordinated cryptocurrency channels used to funnel stolen funds abroad.

More than 20 employees from unregistered cryptocurrency exchange offices were detained, including young operatives recruited from regions across Russia. The ring allegedly acted as a bridge for Ukrainian call centers targeting Russian citizens through phone and online fraud.

The scammers would instruct victims to purchase cryptocurrency at the Moscow City offices, which was then immediately transferred to accounts controlled by organizers based in Ukraine. Investigators revealed that the network relied on couriers aged 18 to 25 who collected cash directly from defrauded victims and delivered it to the exchange offices for conversion and overseas transfer.

The operation comes as Russia widens its ban on bitcoin mining activities, with a decree signed by Russian Prime Minister Mikhail Mishustin barring bitcoin mining in Moscow and some territories in the Kursk region until 2032. Top lawmakers are also intensifying public warnings against digital assets, including Andrey Svintsov, deputy chairman of the State Duma Committee on Information Policy, who recently advised citizens to avoid purchasing Gram, a token associated with the Telegram messaging ecosystem.