FSB Shuts Down Nine Illegal Moscow Crypto Exchanges Linked to Ukrainian Call-Center Fraud

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• FSB and Russia’s Interior Ministry shut down nine illegal crypto exchange points in Moscow City on Aug. 7, detaining more than 20 employees.
• The scheme allegedly laundered stolen funds for a Ukraine-based phone fraud operation that impersonated Russian officials to panic victims into moving savings into “safe accounts.”
• It’s the second Moscow City exchange raid in eight days and the third in under a year, the last one’s exchanges reopened afterward.
• No network name, victim count, or independent damage total has been disclosed; Ukraine has not responded.
• The raid lands weeks before a new Russian crypto-licensing regime takes effect Sept. 1.

FSB, Interior Ministry Shut Down Nine Illegal Crypto Exchanges in Moscow City

Russia’s Federal Security Service and Interior Ministry shut down nine illegal cryptocurrency exchange points inside the Moscow City business district on Aug. 7, tying the raid to a Ukraine-based call-center fraud operation. More than 20 employees of the exchanges were detained, according to the FSB’s Public Relations Center. Russia’s Interior Ministry opened a criminal case under Article 159, Part 4 of the Criminal Code, fraud on an especially large scale, which carries a sentence of up to 10 years.

The Second Moscow City Raid in Eight Days

This is the second time in eight days that Russian authorities have raided a crypto exchange operation inside Moscow City. On July 31, agents raided an operation in the Federation Tower, arresting eight people over 144 million rubles, about $2 million, in embezzled funds tied to a victim scammed by callers impersonating FSB officers. A year earlier, in September 2025, a separate sweep reportedly hit two named Moscow City exchanges, Rapira and Mosca, seizing more than $10 million, 100 million rubles and 200,000 euros in a probe into capital flight to Dubai; Rapira denied any role in moving money there. Those exchanges reopened for business afterward, the detail that matters most heading into this week’s raid: shutting down an office in Moscow City has not, meant shutting down the office.

Inside the “Safe Account” Call Script

Strip away the crypto layer and the fraud itself is a familiar script, run by phone, according to the FSB’s own account of the case:

• A caller poses as an FSB or Rosfinmonitoring officer.
• The victim is told their savings are at risk and must move to a “safe account”, or is pushed to take out a bank loan first.
• A courier, typically 18 to 25 years old, collects the cash in person.
• The cash is converted to cryptocurrency at one of the Moscow City exchange points.
• The crypto is moved into accounts the FSB says were controlled by handlers in Ukraine.

The FSB’s own description of who staffed the conversion side of that chain leaves key questions unaddressed. The agency frames its own detainees as

“young people from the Russian regions looking for easy money”

with limited financial literacy, a framing that casts the case as unwitting youths rather than committed criminals, and one that leaves unaddressed whether any of the nine offices knew who they were actually serving. One detainee’s on-camera account, cited by the FSB’s press office itself, complicates that picture further: some employees say they believed they were acting as informal informants for the FSB or Rosfinmonitoring, not for a fraud ring, an account that, if true, means part of the enforcement action the FSB is now publicizing consists of people who thought they were already working for the FSB.

What the Detained Say Moved Through the Network

The only dollar figures attached to the case come from the detainees themselves: one told investigators up to $2 million moved through their office alone in a single day; combined, the nine offices’ daily volume was put at $1-2 million with roughly 30 clients visited per day, and a separate, unofficial account put the network’s monthly flow at close to 1 billion rubles. That is testimony collected during interrogation, not a verified ledger, and the range is an order of magnitude rather than a precise total.

The Raid Lands Weeks Before a New Licensing Deadline

The timing sits against a regulatory deadline Russia set for itself days before this raid. On Aug. 4, the government finalized a decree requiring crypto exchanges to register, hold at least 15 million rubles in capital, and join a self-regulatory organization, with enforcement starting Sept. 1. The move is part of Russia’s broader crypto regulation efforts to bring digital-asset exchanges under formal oversight. Whether that regime actually closes the gap nine unregistered offices in Moscow City just exploited is a question the September 2025 precedent argues against: the exchanges raided then went back to operating afterward. A licensing requirement only matters if it changes who is willing to run an unregistered office in the first place, and this week’s raid is evidence that, as of Aug. 7, plenty of people still were.

What Happens Next

The legal process is already running: charges are filed, and how many of the nine offices’ operators, as opposed to just the on-site staff, eventually face them is worth tracking. The case also provides an early test of how Russia crypto law will be enforced against unlicensed exchange operators once the new licensing regime takes effect Sept. 1. The more checkable test sits three weeks out: whether Moscow City’s exchange offices are actually harder to find once the licensing regime takes effect Sept. 1, or whether, as after the last raid, they are simply back in business.