Russia Cracks Down on Alleged Crypto Network Linked to Ukraine
Russia's Federal Security Service (FSB) has cracked down on an alleged cryptocurrency network linked to Ukraine, detaining over 20 individuals who worked for unregistered crypto exchange offices.
The FSB claims these offices were used to move money stolen from Russian scam victims to Ukraine. The arrests took place in Moscow City, the capital's high-rise business district, and nine channels used to transfer funds abroad through cryptocurrency have been shut down.
According to the FSB, young people from Russian regions with limited financial literacy are remotely recruited to work at these crypto exchanges, where they target Russians, including pensioners, using call centers in Ukraine. Victims are kept on the phone and instructed in detail before being sent to the crypto exchange offices to buy cryptocurrency and transfer it to accounts controlled by the alleged criminals.