Fraud in Cryptocurrency Exchange Points: Over 20 Employees Detained in Moscow-City

Fraud in cryptocurrency exchange points has led to detentions in Moscow-City: according to the FSB, Ukrainian call centers were withdrawing money stolen from Russians through local crypto exchanges, with daily turnover at such points reaching up to $2 million.

How the Scheme with Crypto Exchanges Worked

The FSB detained over 20 people in Moscow who worked at cryptocurrency exchange points in the Moscow-City area. According to security officials, funds stolen from citizens, including pensioners under the pressure of fraudsters, passed through these points.

"At the specified exchange points, citizens, including pensioners under the influence of fraudsters, were sold cryptocurrency and it was transferred to the accounts of Kyiv curators," the FSB stated.

Victims maintained contact with call centers and followed the instructions received. The scheme involved operations with digital assets: cryptocurrency, including Bitcoin as the most well-known asset on the blockchain, is often perceived by victims as a complex and opaque tool, which is exploited by criminals.

Who Was Detained

According to the FSB, young people hoping for quick earnings were recruited to work in illegal exchanges. In addition to exchange point employees, security officials detained accomplices aged 18 to 25 who acted as couriers.

The FSB, together with the Ministry of Internal Affairs, disrupted the operations of nine foreign money withdrawal channels. Criminal cases of large-scale fraud have been initiated. The suspects could face up to 10 years in prison.

Context of the Case

At the end of July, the FSB detained a Muscovite who transferred money to a crypto wallet used by the Security Service of Ukraine. According to the agency, the man himself contacted a Ukrainian terrorist organization banned in Russia via Telegram.

A case of treason has been initiated against the detainee, and the court has placed him in custody. Security officials also warn that fraudsters may disguise money transfers as ordinary bank transactions and may contact victims not only by phone or Telegram but also via email.

Common Schemes Used by Crypto Fraudsters

Cryptocurrency fraud is not limited to exchanges. Users often encounter several typical schemes:

• Phishing — fake websites, emails, and links that trick users into revealing logins, passwords, and seed phrases;
• Scam projects where creators collect money and disappear;
• Fake exchanges that accept transfers but do not send cryptocurrency;
• Investment pyramids promising stable and high returns;
• Hacking wallets through malicious applications, browser extensions, or key leaks;
• Deception in P2P exchanges, where the other party tries to cancel the payment, send a fake receipt, or move the deal out of a secure chat;
• Schemes involving fake tokens, NFTs, ICOs, and DeFi platforms.

Recently, these schemes have included deepfake videos with famous people, fake applications for purchasing cryptocurrency, hacking social media and messenger accounts, as well as offers of "earnings" through NFT or DeFi services with hidden fees and restrictions on withdrawals.

How to Recognize That You Are Being Scammed

Crypto fraudsters often use the same tactics: they rush you, promise quick profits, and try to isolate you from outside advice.

If you are guaranteed profits, pressured to transfer money urgently, forbidden to consult with loved ones, or offered to click on a link to an unknown service, it is better to stop and check everything again.

Particularly alarming phrases include:

• "We guarantee income";
• "Invest now";
• "Unique opportunity";
• "Only today";
• "We are an official partner";
• "Don't ask anyone, act quickly";
• "First pay the fee, then receive the money".

Signs of risk also include the absence of transparent conditions, an unclear website without company information, persistent phone calls, requests to install applications from third-party sources, and demands to transfer money in advance or provide access to a wallet.

How to Safely Exchange Cryptocurrency

Before exchanging, it is advisable to check the service itself and not to transfer a large amount at once. The basic order of actions is simple:

• Check the company's registration, licenses, or other legal status if they are claimed;
• Look at the exchange's reputation, user reviews, and complaints;
• Compare conditions: rates, fees, limits, and return policies;
• Ensure that the service has support and clear communication channels;
• Do not click on links from random messages; it is better to manually enter the website address;
• First, test the exchange with a small amount;
• Enable two-factor authentication and do not share codes, passwords, and seed phrases with anyone.

In P2P exchanges, the risks are higher: the transaction depends on the other party, payments may be attempted to be canceled, receipts may turn out to be fake, and refunds after a transfer are often difficult. An additional danger is phishing copies of popular platforms and attempts to move communication out of the service's secure interface.

What to Do If Money Has Already Gone to Scammers

If you realize that you have encountered a scam, it is important to act quickly and preserve as much evidence of the operation as possible.

• Gather evidence: correspondence, phone numbers, wallet addresses, receipts, screenshots of the website, and transfer details.
• Contact law enforcement and provide them with the collected data.
• Report the incident to the exchange, platform, bank, or payment service through which the operation was conducted.
• Change passwords, disable suspicious applications, and check devices for malware.
• Warn other users through the service's support or review platform to reduce the risk of new victims.

Cryptocurrency fraud has become widespread due to a combination of several factors: transactions are difficult to cancel, technologies remain unclear to many users, and scammers actively exploit anonymity, pressure, and low financial literacy. The most common mistakes include trusting unfamiliar services, transferring large sums without testing, ignoring reviews, refusing two-factor authentication, and being inattentive to the website or wallet address.