Russia Cracks Down on Unregistered Crypto Exchanges Linked to Phone Scam Money Laundering
Russian authorities have cracked down on nine unregistered cryptocurrency exchange points in Moscow, disrupting a network allegedly used to launder money stolen via phone scams.
The operation, carried out by Russia's Federal Security Service (FSB) and the Interior Ministry, resulted in over twenty employees of the exchanges being taken into custody. The exchanges were linked to call centers in Ukraine and had been operating outside of Russian regulations.
Victims of the phone scams, including pensioners, were allegedly tricked into buying cryptocurrencies through these exchange points, which then transferred the funds to accounts controlled by Ukrainian handlers.
The investigation also identified couriers, some as young as 18 years old, who collected money from victims and delivered it to crypto exchange locations. The FSB stated that these individuals had limited financial expertise and were recruited remotely to operate at exchange points for easy money.