FSB Raids Moscow City Crypto Exchanges, Uncover Multi-Million Dollar Laundering Operation
Russia's FSB security service has raided nine unauthorized cryptocurrency exchanges operating out of offices in Moscow City, arresting over 20 people accused of laundering money stolen from Russian citizens through phone scams.
The FSB claims that Ukraine-based scam call centers used these gray-market exchange offices to convert stolen cash into cryptocurrency and funnel it out of Russia. In one case, an individual arrested during the raids said up to $2 million was laundered through their office in a single day.
The exchanges allegedly employed young people from Russian regions who were recruited online to work as couriers, collecting cash from defrauded citizens and turning it over to the crypto exchanges. The FSB is continuing to identify victims and gather evidence to potentially recover damages.