Moscow City raid hits Donald-capital crypto exchange; more than 20 staff detained

Authorities in Moscow City detained more than 20 employees of underground crypto exchanges, including Donald-capital, a business that specialized in swapping USDT for cash. For PSPs and high-risk operators, the part that matters is the target: cash-out infrastructure, not just on-chain activity.

1. The operation took place in Moscow City, the business district that drew clients by status as much as by convenience. The raids led to the detention of more than 20 employees from the underground network.
2. Donald-capital was described as a large company focused on exchanging crypto assets for cash, mainly USDT. That puts it squarely in the cash-out segment that often sits between source-of-funds flows and the final withdrawal of proceeds.
3. The network reportedly served at least 30 clients a day and handled around 1-2 million dollars in turnover per day. Those numbers matter because they show scale: this was not a side hustle run out of a Telegram chat and a suitcase.
4. The client base allegedly included various criminal schemes used to withdraw proceeds. In practice, that is exactly why cash conversion points attract enforcement attention: they are the bridge between digital assets and spendable money.
5. The raid came as legislation is being prepared that would introduce criminal liability for illegal crypto exchange activity. For market participants, that means the regulatory risk around unlicensed exchange and cash-out services is moving from vague concern to a more explicit enforcement frame.