Source: Cointelegraph
Original: “Russian Crypto Exchange Mosca Raided as Cash-to-Crypto Ban Talks Heat Up”
As the Russian government considers banning cash-to-crypto transactions, several major local cryptocurrency exchanges have faced police raids.
Dmitry Titarenko, the development director of Mosca, confirmed to Cointelegraph that the cash-to-crypto exchange Mosca, located in the Moscow International Business Center, was raided on April 23 due to allegations of fraud involving one of its clients.
“Law enforcement conducted standard checks on our client data,” Titarenko told Cointelegraph at the local cryptocurrency event Blockchain Forum 2025.
Earlier reports online indicated that the arrests of several Mosca clients were related to a cryptocurrency robbery case, where the victim allegedly paid scammers a large cash deposit worth millions of dollars.
The day before the raid on Mosca, Evgeny Masharov, a member of the Russian State Duma, proposed banning cryptocurrency exchanges from accepting cash purchases of cryptocurrencies like Tether (USDT).
Masharov stated that a potential ban on cash-to-crypto transactions would “significantly impact scammers,” adding that phone scammers “often use cryptocurrency exchanges to withdraw cash.”
Subsequently, local news channel Baza reported on the raid of Mosca, linking it to a “record fraud case” involving former Samara region government advisor Olga Serova.
Reports indicate that 71-year-old Serova became a victim of scammers at the end of 2024, handing over approximately 421 million rubles (5.1 million USD) in cash after withdrawing it from her bank account. According to Baza, at least seven people have been arrested in connection with the case.
Titarenko stated that Mosca allows investors to deposit up to 100,000 USDT (100,000 USD) daily, but it remains unclear whether the Serova incident is related to the raid on their office.
“It could be another client,” he said, adding that this was the first time in three months that Mosca had faced a raid due to a criminal case.
Titarenko also mentioned that Mosca has been actively strengthening its anti-money laundering (AML) and know your customer (KYC) checks, including maintaining a blacklist of suspicious users.
Mosca was raided during the significant local event Blockchain Life, which returned to Moscow for the first time since October 2021. The company was one of the main guests at the conference, featuring two central booths and receiving the title of “Best Cryptocurrency Trading Service.”
Sergey Mendeleev, a prominent figure in the Russian cryptocurrency community, expressed that the proposal to ban cash-to-crypto transactions is a concerning development for the community.
Mendeleev stated at the event that if the Russian government approves such a ban, it could indicate a move away from the adoption of cryptocurrencies.
He also noted that raids on cryptocurrency trading services located in the Moscow International Business Center (also known as Moscow City) are common occurrences.
The cryptocurrency exchange Garantex is also located in Moscow City and had previously suspended trading due to Tether freezing 27 million USDT (due to sanctions).
Related: Ljubljana, the capital of Slovenia, named the world’s most cryptocurrency-friendly city.
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