Russia Cracks Down on Unlicensed Crypto Exchanges Linked to Ukraine

Russia’s Federal Security Service (FSB) arrested over 20 people it claims worked for unlicensed crypto exchange offices used to move stolen money from Russian scam victims to Ukraine. The arrests took place in Moscow City, the capital’s high-rise business district. The FSB and Interior Ministry also shut down nine channels used to transfer funds abroad via cryptocurrency. Authorities allege the operation was coordinated by Ukrainian call centers targeting Russians, including pensioners, who were allegedly kept on the phone and instructed remotely. However, the FSB did not identify the crypto exchanges or currencies used, nor the amount stolen. Russia banned Ukrainian-founded exchange WhiteBit in January. Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test funding, security, and governance. CoinDesk is an award-winning crypto media outlet with strict editorial policies.