Russia's FSB Cracks Down on Crypto Exchanges Linked to Ukraine Scam

Russia's Federal Security Service (FSB) has detained over 20 people working at cryptocurrency exchange offices in Moscow City, accusing them of operating an illegal network that funneled money to Ukraine.

The FSB claims the exchanges were used by Ukrainian call centers to launder money stolen from Russians through cryptocurrency sales to unsuspecting citizens, including retirees. The security service says these exchanges were staffed with young people recruited from Russian regions who lacked sufficient financial literacy and were looking for easy money.

Around 9 channels were shut down in the operation, which targeted 'coordinated' networks moving funds out of the country using cryptocurrency. Authorities also detained couriers between 18-25 years old who allegedly collected money from defrauded citizens and passed it on to the crypto exchanges.