Dmitry Titarenko, Mosca’s development director, confirmed that the raid was linked to a fraud case involving one of its customers. Titarenko stated, “Law enforcement agencies have conducted a standard check of our customer data.”

Following the raid, local news outlets reported that several Mosca customers might be connected to a crypto-related scam, where victims allegedly deposited large sums of cash into fraudulent schemes. According to reports, the amount involved was in the millions of dollars.

Cash-to-Crypto Ban: Aimed at Protecting Investors

The raid on Mosca came shortly after Evgeny Masharov, a member of the Russian Civic Chamber, proposed a ban on exchanges accepting cash for cryptocurrency purchases. Masharov argued that such a ban would significantly curb fraudulent activities, as many phone scammers use crypto exchanges to withdraw funds.

Local news channel Baza linked the raid to a record-breaking fraud involving Olga Serova, a former government advisor. Serova reportedly fell victim to scammers in late 2024, handing over approximately 421 million Russian rubles (around $5.1 million) to the fraudsters.

Mosca Platform Details

Mosca allows users to deposit up to 100,000 USDT (approximately $100,000) daily in cash. However, Titarenko emphasized that they were unaware if the fraud case involving Serova was related to the raid on their office. He also pointed out that this was the first raid related to a criminal case at Mosca in the past three months.

Titarenko further stated that the platform has been strengthening its Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, including maintaining a blacklist of suspicious users.

Raids Could Become Commonplace for Crypto Exchanges in Moscow

Mosca was present at the Blockchain Life 2025 event in Moscow, which marked the first major crypto conference to return to the city since October 2021. Mosca participated as one of the main guests, taking two prime booths and winning the title of “Best Crypto Exchange Service.”

Sergey Mendeleev, a prominent figure in Russia’s crypto community, voiced concerns about the government’s move to ban cash-to-crypto transactions, suggesting it could signal a shift away from crypto adoption. He also pointed out that exchanges located in the Moscow International Business Center have become frequent targets of police raids. Previously, Garantex, another exchange, had suspended its operations after Tether froze $27 million in USDT due to sanctions.

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