FSB Raids Crypto Exchanges in Moscow City, Uncovering Massive Money-Laundering Scheme

The Russian security services have cracked down on a massive money-laundering operation in Moscow City, arresting over 20 people accused of helping fraudsters turn stolen rubles into digital currency.

The FSB raids targeted nine unauthorized financial channels operating out of offices in Moscow City's high-rise towers. These channels allegedly laundered funds stolen from Russian citizens through phone scams, and investigators claim that up to $2 million was laundered through a single office in one day.

Young people aged 18 to 25 were recruited as cash couriers, often lured by promises of easy money despite having little financial literacy. They would collect stolen cash from defrauded victims and hand it over to the crypto exchanges for conversion.