UK uncovers criminal network of cryptocurrency fraudsters from Russia

The UK’s National Crime Agency (NCA) has exposed the Russian criminal networks Smart and TGR, which were engaged in money laundering through cryptocurrencies. As part of Operation Destabilization, law enforcement officers confiscated more than 20 million pounds in cash and cryptocurrencies and arrested 84 people, some of whom are already serving prison sentences.

According to the NCA, these networks helped Russian oligarchs and transnational criminal groups to circumvent financial sanctions. The criminals collected money in one country, converted it into cryptocurrencies, and transferred the equivalent amount in another country. These funds were used to finance espionage operations, purchase drugs and weapons.

Smart was headed by Kateryna Zhdanova, who collaborated with other defendants in the case, including Khadzhi-Murat Magomedov and Nikita Krasnov. TGR was coordinated by Georgy Rossi, Elena Chirkinian and Andrejs Bradens. All of them are subject to US sanctions. It is known that Zhdanova transferred more than $ 100 million for one of the Russian oligarchs to the UAE using the stablecoin.

The activities of these networks covered more than 30 countries, including the Middle East, Europe, and the British Isles. TGR members provided large-scale cash transactions, which were delivered to more than 55 locations in the UK. Five couriers involved in the scheme have received prison sentences of up to five years.

Operation NCA is another step in the fight against illicit financial flows that threaten the stability of the global economy.