Russia Shuts Down 9 Crypto Exchanges in Moscow Over Alleged Fraud-Linked Laundering
Russia's FSB closed nine unregistered exchanges and detained more than 20 people, while separately the US Treasury sanctioned two Iran-linked crypto platforms.
AfroEuropa Newsroom
AfroEuropa desk
Russia's Federal Security Service (FSB) said it has shut down nine unregistered cryptocurrency exchanges operating in Moscow, citing alleged money laundering tied to fraud proceeds, according to BitKE.
More than 20 employees were detained in raids at the Moscow International Business Center, a complex known as Moscow City. The FSB said the exchanges converted funds stolen from Russian victims of telephone scams into cryptocurrency and moved the money to accounts connected to operators based in Ukraine. The operation, carried out alongside Russia's Interior Ministry, also targeted couriers who authorities said collected cash from victims and passed it to the exchanges to be converted into crypto.
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