Key facts
- Russia's FSB detained over 20 individuals.
- Russia shut down nine unregistered cryptocurrency exchanges in Moscow.
- Authorities allege the exchanges laundered money stolen from Russian citizens.
- The money was laundered via Ukrainian scam call centers.
- Funds were converted to crypto and transferred abroad.
- Japan's FSA and National Police Agency requested crypto exchanges implement safeguards.
- Safeguards requested by Japan include withdrawal delays.
- The measures in Japan aim to combat digital asset scams and misuse of exchange accounts.
Russia's Federal Security Service (FSB) has taken action against unregistered cryptocurrency exchanges, detaining over 20 individuals and shutting down nine such platforms operating in Moscow. Authorities claim these exchanges were instrumental in laundering money that was stolen from Russian citizens through fraudulent activities linked to Ukrainian scam call centers. The illicit funds were reportedly converted into cryptocurrency and then transferred out of Russia.
In a separate development aimed at combating digital asset scams, Japan's Financial Services Agency (FSA) and the National Police Agency have issued requests to cryptocurrency exchanges. These agencies are asking exchanges to implement safeguards, including withdrawal delays, to help prevent the misuse of exchange accounts and to fight sophisticated digital asset scams. The measures are intended to create friction in the process of illicit fund transfers and to provide a window for intervention.