According to CoinMeta, as reported by The Moscow Times, the Federal Security Service of Russia and the Russian Ministry of Internal Affairs jointly raided illegal cryptocurrency exchanges in Moscow, arresting more than 20 people and investigating 9 unauthorized funds exchange channels. These channels were accused of money laundering for telephone fraud gangs, converting cash stolen from Russian citizens into cryptocurrencies and transferring it abroad. One of the arrested individuals claimed that his office laundered up to 2 million US dollars in a single day. Most of those arrested were Russian youths aged between 18 and 25, and the Russian Ministry of Internal Affairs has launched a criminal investigation into this large-scale fraud case.