Russian crypto exchanger Mosca raided amid cash-to-crypto ban talks

As the Russian authorities is considering a prohibition connected cash-to-cryptocurrency transactions, immoderate large section crypto speech platforms person encountered constabulary raids.

Mosca, a crypto-to-cash speech located successful the Moscow International Business Center, was raided connected April 23 successful connection with fraud by 1 of its customers, Dmitry Titarenko, Mosca’s improvement head, confirmed to Cointelegraph.

“Law enforcement agencies person carried retired a modular process of checking our lawsuit data,” Titarenko told Cointelegraph astatine the section crypto lawsuit Blockchain Forum 2025.

Mosca’s bureau raid followed online reports linking respective arrests of immoderate Mosca customers with an alleged crypto robbery involving a unfortunate reportedly giving fraudsters a monolithic currency deposit worthy millions of dollars.

Cash-to-crypto prohibition to support investors?

Mosca’s confirmed constabulary raid came the adjacent time aft Evgeny Masharov, a subordinate of the Russian Civic Chamber, proposed banning crypto exchangers from accepting currency from their customers to bargain cryptocurrencies similar Tether USDt (USDT).

A imaginable prohibition connected cash-to-crypto transactions would beryllium a “massive stroke to fraudsters,” Masharov urged, adding that telephone scammers are “often utilizing crypto exchangers for withdrawing currency funds.”

Olga Serova, a erstwhile advisor to the caput of the authorities of Samara region, claims to person mislaid up to $5 cardinal to crypto fraudsters. Source: Baza

Subsequently, section quality transmission Baza reported connected the Mosca’s raid, linking the lawsuit with a “record-breaking fraud” against Olga Serova, a erstwhile authorities advisor successful Russia’s Samara region.

Serova, 71, reportedly fell unfortunate to scammers successful precocious 2024, cashing retired her slope accounts to pass the fraudsters an estimated full of 421 cardinal Russian rubles ($5.1 million). According to Baza, astatine slightest 7 radical were arrested, allegedly successful transportation with the case.

Mosca clients tin bargain up to 100,000 USDT with currency daily

Mosca, which allows investors to deposit up to 100,000 USDT ($100,000) daily, is not alert whether Serova’s incidental was connected to its bureau raid connected Wednesday, Titarenko said.

“Maybe it was different client,” helium noted, adding that the raid was the archetypal transgression case-related bureau raid astatine Mosca successful the past 3 months.

Titarenko besides mentioned that Mosca has been actively beefing up its Anti-Money Laundering and Know Your Customer checks, including maintaining a blacklist of suspicious users.

Related: Russia’s cardinal bank, concern ministry to motorboat crypto exchange

The raid caught Mosca during a large section event, Blockchain Life, returning to Moscow for the archetypal clip since October 2021. The institution was 1 of the main guests astatine the conference, taking 2 halfway stands and winning a rubric of the “best crypto speech service.”

One of Mosca’s stands astatine the Blockchain Forum 2025. Source: Cointelegraph

According to Sergey Mendeleev, a salient fig successful the Russian crypto community, the connection to prohibition cash-to-crypto transactions is an alarming improvement for the community.

Speaking astatine the event, Mendeleev suggested that the Russian authorities mightiness beryllium turning distant from crypto adoption if it opts to o.k. specified a ban.

He besides mentioned that raids are a communal concern for crypto speech services located astatine the Moscow International Business Center, besides known arsenic Moscow City.

Garantex, a crypto speech that halted trading aft Tether froze $27 million successful USDT owed to sanctions, was besides among the exchangers located successful Moscow City.

Magazine: Pokémon connected Sui rumors, Polymarket bets connected Filipino Pope: Asia Express