Russia cracks down on unlicensed crypto exchanges it claims are linked to Ukraine

PolicyRussia cracks down on unlicensed crypto exchanges it claims are linked to UkraineThe FSB said at least 20 individuals were arrested in connection with a ring that scammed an undetermined number of Russian citizens.By Olivier Acuna|Edited by Jamie Crawley Aug 7, 2026, 2:04 p.m. 1 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowRussia’s Federal Security Service said it detained more than 20 people in Moscow City accused of operating unregistered crypto exchange offices that funneled money stolen from Russian scam victims to Ukraine.Authorities said the alleged scheme used Ukrainian call centers to target Russians, including pensioners, instructing them to buy cryptocurrency at these offices and transfer it to accounts controlled by the suspects.The FSB said it shut down nine channels used to move funds abroad via crypto but did not identify the exchanges, the cryptocurrencies involved or the total sums stolen, nor did it provide evidence for its claims of Ukrainian coordination.Russia’s Federal Security Service (FSB) said Friday it detained more than 20 people it claims worked for unregistered crypto exchange offices used to move money stolen from Russian scam victims to Ukraine.The arrests took place at Moscow City, the capital’s high-rise business district, the security agency said. It also said that the FSB and the Interior Ministry had shut down nine channels used to transfer funds abroad through cryptocurrency.“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.Authorities explained that the ring it busted relied on call centers in Ukraine that targeted Russians remotely, including pensioners. Victims were allegedly kept on the phone and told in detail how to proceed before being sent to the crypto exchange offices to buy crypto and transfer it to a…

Russia cracks down on unlicensed crypto exchanges it claims are linked to Ukraine

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