Russian authorities dismantle five crypto exchanges and darknet market

Russia’s Ministry of Internal Affairs (MVD) has shut down five cryptocurrency exchanges and a darknet marketplace used to launder criminal proceeds. According to MVD spokesperson Irina Volk, the platforms were utilized by dark web drug market operators to convert illegally obtained cryptocurrency into fiat currency.

Despite the use of advanced technology intended to ensure client anonymity, investigators reported securing information on more than 185,000 crypto exchange transactions. During the operation, authorities seized computers, documents, cash, and cryptocurrency.

Five suspects, identified as moderators of the darknet forum, have been detained and charged with “organizing a criminal community” under the Russian Criminal Code. This crackdown follows recent moves by Moscow to regulate the cryptocurrency sector and curb uncontrolled or illegal trading.