The Russian Federal Security Service (FSB) raided nine unregistered cryptocurrency exchanges in Moscow and arrested more than 20 employees on suspicion of involvement in money laundering for a Ukraine-based voice phishing organization, Cointelegraph reported. The FSB believes that these exchanges converted money from Russian voice phishing victims into cryptocurrency and transferred it to Ukrainian accounts. Authorities explained that couriers aged 18-25 would collect cash from victims, deliver it to the exchanges, which would then convert it into cryptocurrency. The Russian Ministry of Internal Affairs has launched a criminal investigation on charges of large-scale fraud, and the FSB stated that it is continuing its investigation into identifying victims and the possibility of recovering the stolen funds.
