TechFlow news, on September 25, according to Cryptonews, police in Moscow, Russia raided and shut down a cryptocurrency exchange operating under the guise of a travel agency. The exchange is suspected of assisting clients in transferring funds overseas, with transaction volumes amounting to approximately $2.2 million, according to a report by Russia's Ministry of Internal Affairs.
Police investigations revealed that the illegal exchange operated under the cover of a travel agency, providing cryptocurrency trading services to Russian clients while charging a 1% commission. Its primary business involved helping clients transfer funds to overseas cryptocurrency wallets, effectively using cryptocurrencies as a tool for cross-border remittances.
During the raid, law enforcement seized large amounts of cash, receipts, and electronic devices. Video released by the police showed officers inspecting bundles of U.S. dollar bills, transaction records, and computer equipment. A male employee admitted during questioning: "We conducted cryptocurrency transactions, nothing more."
