FSB Raids Target Moscow Crypto Exchanges Over Alleged Fraud Links

The Federal Security Service (FSB) and the Interior Ministry conducted the operation amid an investigation into large-scale fraud. According to official reports, the exchanges functioned as part of a broader network designed to move illicit funds out of Russia. Investigators allege that victims—often elderly individuals—were manipulated by scam call centers into transferring cash to couriers, who then delivered the funds to exchange points for conversion into digital assets.

The detained personnel, many of whom were recruited remotely from various Russian regions, now face charges under Part 4 of Article 159 of the Criminal Code. If convicted, they could face up to 10 years in prison. Officials continue to process witness statements and assess whether the stolen funds can be recovered.

This enforcement action arrives just weeks before a new regulatory framework for digital assets takes effect on September 1. The legislation mandates that exchange providers join a government registry and adhere to strict capital requirements. While the law allows for specific cross-border settlements, it maintains a ban on using cryptocurrency for domestic retail payments. The government has simultaneously moved to tighten control over the broader sector, including an extended ban on cryptocurrency mining in Moscow and parts of the Kursk region through 2032.