They are suspected of money laundering, the agency's interlocutors say

​Bloomberg: four scam cryptocurrency exchanges are operating in “Moscow City”

05.11.2021 - 09:35

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1 min

What's new? The “Vostok” Tower of “Moscow City” complex is home to “gray” cryptocurrency exchanges such as Suex, EggChange, Buy-bitcoin.pro, and CashBank. This conclusion was reached by the Bloomberg agency, which refers to its own sources.

Material on the Bloomberg website

What did the agency find out? The agency’s interlocutors claim that at least four of the aforementioned companies have been located in the tower for the past three years. According to sources, they have been involved in money laundering obtained through digital extortion since 2011. In total, they may have laundered about $1,6 billion.

What is known about the companies? A representative of the Binance cryptocurrency exchange stated in a commentary to Bloomberg that the platform blocked accounts that had been receiving “illegal transfers” from, presumably, EggChange and CashBank. The analytical company Chainalysis also found out that EggChange is under investigation by US and EU regulators on suspicion of money laundering.

What had happened before? At the end of September, the US Department of the Treasury imposed sanctions against Suex. The institution categorized the company as possible terrorist financing and drug trafficking one, and also blocked Suex's property in the United States, and banned its citizens from any operations on the platform.

Author:

yanazakomoldina yanazakomoldina

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