The Russian crypto exchanger Mosca, which facilitates cash-to-crypto transactions, was raided by law enforcement on April 23 amid escalating discussions regarding a ban on cash-to-cryptocurrency exchanges. Mosca allows customers to buy up to $100,000 worth of Tether (USDT) daily. The raid coincided with reports of a $6 million fraud scheme involving one of its customers. Dmitry Titarenko, Mosca’s development head, confirmed the raid was part of a routine check of customer data. The move has raised concerns within the Russian crypto community, particularly regarding proposed regulations that could prohibit cash exchanges, which some officials claim would hinder fraudsters’ operations. The incident follows the case of Olga Serova, a former government adviser who reportedly lost over $5 million to scammers using cryptocurrency exchanges for cash withdrawals. Titarenko emphasized that Mosca has been strengthening its Anti-Money Laundering and Know Your Customer measures to combat potential fraud. This event adds to a history of similar law enforcement activities targeting crypto exchanges in Moscow International Business Center.

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