Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

Russia cracks down on 9 crypto exchanges in Moscow City

Latest NewsPublishedAug 7, 2026

Russia has shut down nine unregistered crypto exchanges in Moscow, with the FSB alleging they helped move scam proceeds abroad through Ukrainian call centers.

Russia’s Federal Security Service (FSB) has raided nine unregistered crypto exchange services in Moscow over alleged money laundering involving fraud proceeds that authorities linked to Ukraine-based scam call centers.

The agency stated it detained more than 20 employees at the Moscow International Business Center (Moscow City) as part of an operation targeting channels allegedly used to move illicit funds abroad through crypto assets, as reported by an official statement on Friday.

The FSB stated the exchanges converted money stolen from Russian victims of phone scams into cryptocurrency and transferred it to accounts belonging to what it described as Ukrainian handlers.

The operation was carried out jointly by the FSB and Russia’s Interior Ministry. Authorities stated some couriers aged 18 to 25 collected cash from victims and delivered it to the exchanges for conversion into crypto. The FSB stated young people from Russian regions were recruited to work at the exchanges despite having limited financial literacy.

The Interior Ministry introduced a criminal investigation into large-scale fraud, an offense punishable by up to 10 years in prison under Russian law. The FSB stated it is continuing to identify victims and assess potential compensation.

Related: Russian president signs crypto law, core rules take effect in 2026

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Russia
• Moscow
• Cryptocurrency Exchange
• Money Laundering
• Ukraine
• Industry

More on the subject

CEX perpetual futures volume falls to $4T, lowest since late 2023

42 minutes ago

Zoltan Vardai

CleanSpark misses Wall Street revenue estimates as shares sink

3 hours ago

Zoltan Vardai

News Brief

Bitget explores licensed crypto presence in Bhutan

9 hours ago

Felix Ng

News Brief

CEX perpetual futures volume falls to $4T, lowest since late 2023

42 minutes ago

Zoltan Vardai

CleanSpark misses Wall Street revenue estimates as shares sink

3 hours ago

Zoltan Vardai

News Brief

Bitget explores licensed crypto presence in Bhutan

9 hours ago

Felix Ng

News Brief