In 2025, cybercriminals siphoned off roughly 295 billion rubles-about $4 billion-abroad through cryptocurrency exchanges, according to Stanislav Kuznetsov, deputy chairman of Sberbank’s management board. He revealed these figures at the International Security Forum on May 26, 2026.
- Russia hosts over 900 entities exchanging and transferring cryptocurrency internationally, operating online, offline, and in shadowy parts of the internet.
- A draft law on ”digital currency and digital rights” has passed its first reading in the State Duma.
- The 295 billion rubles correspond to about $4 billion according to Sberbank’s analysis.
Crypto-enabled crime scale in Russia in 2025
Stanislav Kuznetsov cited Sberbank analytics: ”Around 300 billion rubles-approximately $4 billion-of stolen funds are moved out of Russia using cryptocurrencies and crypto exchanges. These are proceeds from scams targeting individuals, attacks on companies, and fraudulent activities against legal entities.”
Cryptocurrency has become a global tool for illicit flows, enabling organized crime financing, terrorism support, and money laundering. Kuznetsov explained that as regulators clamp down on traditional financial channels, criminals increasingly shift to the crypto sector.
Sberbank’s approach to cryptocurrency regulation
”Crypto transactions today mean anonymity, lack of oversight, and cross-border transfers. That’s why criminals and cybercriminals find it attractive. At the same time, cryptocurrency is a convenient, modern payment method for legitimate businesses. So the industry needs balanced regulation that protects honest participants,” Kuznetsov said.
He backed the recent draft law on digital currency advancing through the State Duma. ”The core idea-registering or licensing crypto market participants-is the right approach. We expect the law to be passed soon, enabling the state to build an effective risk management system that respects legitimate interests.”
Russia’s cryptocurrency ecosystem is notably diverse and less regulated than Western markets, where firms like Coinbase and Binance operate under stricter compliance regimes. While Western regulators move toward tighter crypto controls to limit financial crime, Russia is just beginning to implement formal crypto legislation, reflecting its unique market dynamics and regulatory challenges.
As crypto adoption grows globally, the tension between fostering innovation and preventing illicit use will define regulatory efforts. Russia’s next moves on this law could offer insight into how the country balances those pressures and whether it can curb criminal exploitation without stifling legitimate crypto businesses.