Russia Arrests More Than 20 in Crypto Laundering Crackdown

Russian authorities have arrested more than 20 people in a major operation targeting unauthorized cryptocurrency exchange offices in Moscow, alleging that the businesses were used to process money obtained through telephone fraud before converting the funds into digital assets and transferring them outside the country

The Federal Security Service, working with Russia’s Interior Ministry, raided nine unauthorized exchange operations in Moscow City, the capital’s major financial district. Authorities said the offices were allegedly connected to fraud schemes operated through call centers based in Ukraine and were used to receive and convert cash collected from victims

The investigation also targeted couriers who allegedly collected cash from individuals defrauded through telephone scams and delivered it to exchange operators. The FSB said some of those involved were recruited from different Russian regions with promises of easy earnings, with many of the detainees reportedly between 18 and 25 years old

Authorities released footage showing one detained suspect claiming that as much as $2 million had passed through a single exchange office in one day. The FSB also said some of the individuals questioned believed they had been recruited to work as confidential informants for Russian security or financial intelligence agencies