Raids on "Gorbushka": law enforcement uncovered a network of illegal crypto exchangers
Moscow's "Gorbushka" market has become the epicenter of a large-scale law enforcement operation. For the second day now, searches have been ongoing at the legendary shopping complex, which, according to my information, are directly linked to an investigation into the activities of underground cryptocurrency exchange points.
What is happening at the scene
Operatives are working in the complex's pavilions and service areas. According to preliminary information, large sums of cash, documentation, and electronic equipment have been seized. Investigative actions have not yet been completed, and part of the territory of "New Gorbushka" — the adjacent building where the exchange offices were based — has been cordoned off.
Witnesses report that masked officers arrived the previous day in the afternoon. According to security, the exchange points had been operating on the complex's territory for several years, indicating the long-term nature of the illegal activity. The investigation is being conducted by Moscow law enforcement agencies, but no official comments have been made yet.
Two "Gorbushkas" and the systemic fight against shadow exchange
It is important to distinguish between two sites: "Old Gorbushka" — the electronics market near the Gorbunov House of Culture, which emerged back in the late 1980s, and "New Gorbushka" — the modern "Gorbushkin Dvor" complex, where sellers moved in the 2000s. The searches are taking place in the latter.
This is the second major crackdown in recent weeks. Earlier, a joint operation by the FSB and the Ministry of Internal Affairs shut down nine illegal exchange offices in the "Moscow-City" business center, where more than 20 people were detained. At that time, the investigation established that Ukrainian call centers used these platforms to launder funds stolen from Russian citizens. Criminal cases were opened for fraud on an especially large scale.
Notably, the searches in "Moscow-City" took place just three days after the signing of the law on basic regulation of digital currencies. The main provisions of the document come into force on September 1, 2026, and existing businesses have been given a transition period until July 1, 2027.
The systemic purge of shadow exchange offices is a clear signal to the market: the regulatory guillotine has been launched, and authorities are restoring order before the law officially takes effect. For bona fide participants, this is a window of opportunity for legalization, but those who continue to operate in the gray zone should prepare for severe consequences. The cryptocurrency exchange market in Russia is finally moving into the legal framework, and hesitation here could cost a great deal.