Illegal crypto exchangers in Moscow City handled up to $2 million a day, FSB says

The FSB says it detained more than 20 people over unregistered crypto exchangers operating in Moscow City. For PSPs and other high-risk payment operators, the key detail is simple: this was not retail crypto speculation, but an alleged cash-to-crypto laundering setup tied to phone fraud proceeds.

1. The FSB said the illegal crypto exchangers in Moscow City had a daily turnover of $1–2 million. That figure came from the testimony of one detained employee, and the FSB public relations center published video of the interrogation.
2. The detained man said he met clients, served them, counted the money, and then they signed a contract. He also said the clients were citizens who had been defrauded by scammers.
3. According to the same statement, about 30 people visited the crypto exchanger each day. That gives a sense of scale: this was a relatively small customer flow doing very large cash volumes, which is exactly the sort of pattern compliance teams are built to notice.
4. The FSB said more than 20 people were detained in the business center Moscow City on suspicion of working for unregistered crypto exchangers. The service said the organizations legalized money stolen from victims of phone fraud.
5. The FSB also said the funds were then sent to Ukraine. No further comment was included in the source on the legal status of the case, the operators involved, or any payment rails used beyond the alleged crypto exchanger network.