Russian FSB Raids Nine Crypto Exchanges, Detains 20 in Fraud Probe

Russian Federal Security Service (FSB) operatives raided nine cryptocurrency exchange operations in Moscow this week, detaining more than 20 individuals in what officials described as a coordinated push against fraud-linked digital asset conversion. The enforcement action targeted unlicensed exchange facilities at the Moscow International Business Center that prosecutors allege processed proceeds from telephone scam operations based in Ukraine.

Working with the Interior Ministry, the FSB seized physical currency and digital records during simultaneous raids, law enforcement officials said. Investigators allege the exchange network converted rubles collected from defrauded victims into cryptocurrency before routing the assets abroad. The suspects face charges under Article 159, Part 4 of Russia's Criminal Code – organized or large-scale fraud – carrying a maximum sentence of ten years.

Officials said the scammers maintained direct contact with victims, instructing them to hand cash to couriers who then delivered the money to exchange points. Some victims unknowingly bought cryptocurrency through these same facilities, believing they were executing lawful financial procedures, the investigation found. Police detained couriers aged 18 to 25, many recruited from regions outside Moscow with promises of quick money, according to security service statements.