Russia has detained over 20 workers in raids on nine crypto exchanges over alleged laundering scheme tied to scam proceeds.
Summary
- Russia has detained more than 20 people after raiding nine unregistered crypto exchange services in Moscow.
- Authorities alleged the exchanges converted scam proceeds into cryptocurrency and transferred the funds to Ukrainian handlers.
- Exchange employees and couriers are under investigation for alleged involvement in large scale fraud carrying penalties of up to 10 years in prison.
- The operation comes weeks before Russia’s new regulated cryptocurrency market is scheduled to begin on Sept. 1.
According to an official statement from…
