Russia’s FSB Raids Nine Crypto Exchanges Over Alleged Ukraine-Linked Fraud

TLDR

• FSB raids nine Moscow crypto exchanges over alleged Ukraine-linked fraud network

• More than 20 workers detained in Moscow City during coordinated crypto raids

• Couriers allegedly moved scam proceeds into crypto for transfers linked abroad

• Russian police open large-scale fraud cases with prison terms up to 10 years

• Authorities trace victims and crypto transfers tied to the suspected scam network

Russia’s FSB has disrupted nine suspected crypto transfer channels in Moscow linked to fraud proceeds and overseas transfers. The operation targeted unregistered exchange offices allegedly serving Ukraine-based scam call centers. Authorities detained more than 20 workers and opened a large-scale fraud investigation.

FSB Targets Unregistered Crypto Exchanges in Moscow

The FSB conducted the operation with Russia’s Interior Ministry at the Moscow International Business Center. Investigators said the exchange offices converted stolen funds into cryptocurrency before sending assets abroad. Authorities linked the transfers to accounts allegedly controlled by people connected with Ukrainian call centers.

According to investigators, scammers kept victims engaged remotely while directing each financial step. Some victims bought cryptocurrency through the targeted exchange offices without understanding the wider transaction. The FSB said the process allowed fraud proceeds to move beyond Russia through digital assets.

Authorities also detained workers who allegedly supported the exchange network’s daily operations. Investigators are examining how each office handled cash, cryptocurrency purchases, and subsequent transfers. The inquiry will also determine the total value moved through the nine suspected channels.

Couriers Allegedly Moved Fraud Proceeds to Crypto Offices

Police also detained suspected couriers between 18 and 25 years old during the operation. Authorities said they collected money from defrauded citizens and delivered it to crypto exchangers. The exchangers then allegedly converted those funds into cryptocurrency for onward transfer.

The FSB said recruitment also targeted young people from Russian regions seeking quick income. Authorities described some recruits as having limited financial knowledge before joining exchange operations. Investigators are reviewing whether recruiters directed staff remotely and assigned specific roles within the network.

The case also involves pensioners and other citizens who allegedly followed scammers’ instructions. Authorities said some victims believed they were completing legitimate financial steps during the fraud. Investigators are now identifying affected people and reviewing possible compensation for documented losses.

FSB Fraud Case Carries Possible Ten-Year Prison Term

Russia’s Interior Ministry opened criminal cases under Part 4 of Article 159 of the Criminal Code. The provision covers organized or especially large-scale fraud and allows prison terms reaching ten years. Employees and couriers face allegations of assisting the suspected fraud scheme.

The FSB said investigators will continue checking testimony and tracing transfers connected with the exchange offices. Authorities will also examine whether additional participants helped route money through cryptocurrency. The investigation remains focused on identifying victims, financial flows, and possible links between the detained groups.

Russian authorities have increasingly examined cryptocurrency channels linked to fraud and cross-border financial transfers. In this case, investigators are focusing on the alleged conversion of stolen cash into transferable digital assets. The FSB operation therefore concerns suspected fraud proceeds rather than ordinary cryptocurrency trading.