FSB Raids Moscow City Crypto Exchanges Accused of Laundering Stolen Cash

Aug. 7, 2026 Russian Federal Security Service Russia’s FSB security service said Friday that it arrested more than 20 people in a series of raids targeting illegal cryptocurrency exchanges operating out of offices in the Moscow City financial district. Together with Russia’s Interior Ministry, the FSB targeted nine unauthorized financial channels accused of laundering money stolen from Russian citizens by phone fraudsters. The FSB claimed Ukraine-based scam call centers used gray-market exchange offices in Moscow City to convert stolen cash into cryptocurrency and funnel it out of Russia. In an FSB video shared by state media, one of the individuals arrested in law enforcement raids said that up to $2 million was laundered through their office in a single day. Some of those arrested claimed on camera that they believed they had been working as undercover informants for either the FSB or Russia’s financial watchdog, Rosfinmonitoring. “Young people from the Russian regions who are looking for easy money are remotely recruited to work at these crypto exchanges despite having limited financial literacy,” the FSB said in a statement. Those arrested included people aged 18 to 25 who were hired as couriers to collect cash from the defrauded citizens and turn it over to the crypto exchanges. Russia’s Interior Ministry launched a criminal investigation into large-scale fraud, an offense punishable by up to 10 years in prison. The FSB said it is continuing to identify victims to gather evidence and potentially recover damages. Read more about: FSB , Cryptocurrency , Ukraine , Interior Ministry Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more FSB Claims It Foiled Ukrainian Assassination Plots Against Military Officials The FSB accused Ukrainian intelligence of recruiting a young Moscow woman and a Russian ex-convict living in Ukraine to carry out the attacks. 2 Min read Shoigu Targeted in Alleged Ukrainian Assassination Plot, Pro-Kremlin Media Claim Russia’s FSB said last week that a “high-ranking official” was targeted while visiting the grave of a family member at Troyekurovskoye Cemetery in... 2 Min read Russia's FSB Detains Nearly 40 Alleged Supporters of 'Ukrainian Terrorist' Groups Authorities claimed that nine teenagers had been involved in planning "armed attacks on educational and religious institutions." 1 Min read Russia’s FSB Arrests Man Over Alleged Donations to Ukrainian Army The man is accused of trying to buy satellite communication equipment that would help Ukrainian artillery locate and fire on Russian military units. 1 Min read