Russia's FSB Raids Crypto Exchanges, Detains Over 20 in Alleged Ukraine Money Laundering Scam
Russia's Federal Security Service (FSB) has raided nine cryptocurrency exchanges in Moscow City, detaining over 20 people. The FSB claims the exchanges were used by a scam network to funnel money to Ukraine.
The alleged scam involved selling cryptocurrency to Russian citizens, including retirees who had fallen victim to scammers. The funds were then transferred to accounts held by Ukrainian handlers.
According to the FSB, young people from various regions of Russia were recruited remotely to staff the exchanges, often without sufficient financial literacy. They were also accused of being 'non-staff employees' of the Russian Cash-in-Transit Association (Rosinkas).
The raids are not the first time cryptocurrency exchanges have been targeted in Moscow City. Previous inspections in September 2025 were linked to money laundering operations in Dubai.