Russian authorities detained more than 20 people and shut down nine unregistered crypto exchange operations in Moscow City, saying the offices were used to convert cash stolen from scam victims into digital assets and transfer the proceeds abroad, including to wallets linked to Ukrainian intermediaries. The FSB said the scheme began with fraudulent call centers that authorities claim operated from Ukraine, while couriers aged 18 to 25 collected victims' cash and delivered it to exchange offices for conversion before the funds were moved across borders. Investigators are still identifying victims, tracing wallet flows and assessing whether recovered assets could be used for compensation. The raids come weeks before Russia's new cryptocurrency framework takes effect on Sept. 1, creating approved exchanges and digital depositories under formal supervision while keeping crypto banned as a domestic means of payment. The case highlights Moscow City's role as a major over-the-counter crypto hub and suggests enforcement is shifting from isolated exchange searches toward scrutiny of the full transaction chain linking fraud, cash collection and blockchain-based transfers.