Searches at offices in the Federation East Tower temporarily halted operations as investigators traced suspected fund flows and examined whether staff were involved.
Russian law enforcement searched cryptocurrency exchange offices in Moscow’s Federation Vostok tower on July 31 in a probe tied to a 144 million ruble embezzlement case. Dozens of people were detained, and eight were placed under pre-trial detention as investigators traced the movement of allegedly stolen funds through one of the crypto platforms operating in the building. The victim was identified only as Vladimir R., who was allegedly targeted by people posing as agents of Russia’s Federal Security Service, the FSB. The offices were temporarily shuttered while investigators reviewed records and digital infrastructure. The raids fit a wider crackdown that has accelerated since 2025, with Russian authorities increasingly targeting Moscow-based crypto exchanges over fraud, money laundering and sanctions evasion. Separately, a law passed by the State Duma in July 2026 will require crypto exchanges to register with Russian authorities from 2027, while mining restrictions in the Moscow region are set to begin in August 2026.