Russia closes nine unregistered crypto exchanges in Moscow

Russian security forces have shut down nine unregistered cryptocurrency exchange offices in Moscow and detained more than 20 people, alleging the operations were part of a scheme to launder money stolen from Russian citizens through phone scams and funnel the proceeds abroad, often to Ukraine. The raids, conducted on Friday, August 7, 2026, were a joint operation by the Federal Security Service (FSB) and the Interior Ministry at the Moscow International Business Center, known as Moscow City.

Authorities stated the targeted offices served as conversion points where cash obtained through fraud was changed into cryptocurrency before being transferred overseas. The FSB alleged the fraud network relied on call centers in Ukraine that remotely targeted Russian victims, including pensioners. Scammers, sometimes impersonating bank employees or law enforcement, would keep victims on the phone, instructing them to withdraw cash and deliver it to couriers or directly to the crypto exchange offices to purchase digital assets.

Those detained included individuals allegedly working at the exchanges and couriers, some aged 18 to 25, who collected money from victims. The FSB claimed young people...