FSB Cracks Down on Moscow City Crypto Exchanges Accused of Laundering Stolen Cash
Russia's FSB security service and Interior Ministry have arrested over 20 people in a series of raids targeting illicit cryptocurrency exchanges operating out of offices in Moscow City.
The exchanges, accused of laundering money stolen from Russian citizens by phone fraudsters, are believed to have converted the stolen cash into cryptocurrency through gray-market exchange offices in Moscow City. According to an FSB video shared with state media, one individual arrested in the raids claimed that up to $2 million was laundered through their office in a single day.
The accused exchanges allegedly used Ukraine-based scam call centers to facilitate the money laundering operation. Those arrested include young people from Russian regions who were hired as couriers to collect cash from defrauded citizens and turn it over to the crypto exchanges.