The Financial Monitoring Agency (FMA) has shut down the shadow crypto service RAKS Exchange. The service handled money for over 200 drug markets from Kazakhstan, Russia, Ukraine, and Moldova, reports Todayinfo news agency.
According to the agency, the service helped convert cash into cryptocurrency and back, hiding its origin. The platform's total turnover exceeded $224 million. The investigation checked over four thousand crypto wallets, freezing assets worth more than 9.7 million USDT. Of these, 3.2 million have been seized as criminally obtained funds and transferred to the agency's account.
“The investigation hit the entire chain: drug supplies were disrupted, sales channels were broken, and several drug stores were closed,” the FMA said.
The FMA added that it continues to work on the case. Earlier, the National Bank introduced strict rules for crypto platform operators.
