Russian Teens Arrested for Alleged Involvement in Crypto-Powered Money Laundering Scheme
According to a police source in the Khanty-Mansi Autonomous Okrug, two Russian teenagers have been arrested as part of an investigation into a suspected “money laundering” ring involving cryptocurrencies. The source revealed that the brothers had enticed other teenagers in the region to participate in their scheme.
The investigation was initiated after the parents of some of the teens sent a statement to law enforcement agencies, alleging that an organized crime group had involved their children in an illegal crypto exchange operation. Prior to the tip-off, the police were unaware of the scheme but immediately launched an inquiry.
The source stated that the two brothers incentivized their peers by offering them small financial rewards for processing crypto-related transactions through their bank accounts. One of the teenagers managed to process approximately $22,000 worth of crypto exchange-related funds within a span of two months. As a result, he earned around $4,400, which he kept hidden at home under his pillow.
The case has attracted the attention of the federal investigative agency, the Investigative Committee of the Russian Federation. Committee chief Alexander Bastrykin personally intervened in the matter, and the regional branch of the committee is closely monitoring the case.
Crypto exchanges currently have no legal status in Russia, but the nation’s anti-money laundering agency, Rosfinmonitoring, has urged the government to accelerate the implementation of regulatory laws. Both the agency and the police argue that cryptocurrencies have become the preferred choice for money launderers and criminals in Russia.
In the coming weeks, lawmakers are expected to debate a significant piece of crypto-related legislation. The proposed bill seeks to ban all domestic crypto exchanges, except for officially sanctioned sandbox operators. Additionally, the bill suggests that energy providers should be authorized to investigate home-based crypto miners. It also aims to legalize the industrial crypto mining sector.
It remains to be seen how this case will unfold, as the Khanty-Mansi Autonomous Okrug branch of the Investigative Committee has yet to comment on the matter.
