The post Russian crypto exchange Mosca raided amid cash-to-crypto ban talks appeared on BitcoinEthereumNews.com.

As the Russian government is considering a ban on cash-to-cryptocurrency transactions, some major local crypto exchange platforms have experienced police raids. Mosca, a crypto-to-cash exchange located in the Moscow International Business Center, was raided on April 23 in connection with fraud by one of its customers, Mosca’s development head Dmitry Titarenko confirmed to Cointelegraph. “Law enforcement agencies have carried out a standard procedure of checking our customer data,” Titarenko told Cointelegraph at the local crypto event Blockchain Forum 2025. The Mosca office raid followed online reports linking several arrests of some Mosca customers to a crypto robbery involving a victim reportedly giving fraudsters a massive cash deposit worth millions of dollars. Cash-to-crypto ban to protect investors? The police raid on Mosca came the next day after Evgeny Masharov, a member of the Russian Civic Chamber, proposed banning crypto exchangers from accepting cash from their customers to buy cryptocurrencies like Tether USDt (USDT). A potential ban on cash-to-crypto transactions would be a “massive blow to fraudsters,” Masharov said, adding that phone scammers were “often using crypto exchangers for withdrawing cash funds.” Olga Serova, a former adviser to the head of the government of Samara region, claims to have lost up to $5 million to crypto fraudsters. Source: Baza Subsequently, local news channel Baza reported on the Mosca raid, linking the event with a “record-breaking fraud” against Olga Serova, a former government adviser in Russia’s Samara region. Serova, 71, reportedly fell victim to scammers in late 2024, cashing out her bank accounts to pass the fraudsters about 421 million Russian rubles ($5.1 million). According to Baza, at least seven people were arrested, allegedly in connection with the case. Mosca clients can buy up to 100,000 USDT with cash daily Mosca, which allows investors to deposit up to 100,000 USDT ($100,000) daily, was…

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Filed under: News - @ April 26, 2025 4:17 am