Operation Unstable, organized by the UK’s National Crime Agency (NCA), has arrested 84 suspects and seized £20 million in cash and cryptocurrency linked to Russian criminal networks Smart and TGR.
The UK’s National Crime Agency (NCA) together with international partners conducted a large-scale operation codenamed “Unstable”. As part of the operation, it was possible to expose and arrest 84 people associated with the Russian Smart and TGR networks. £20 million in cash and cryptocurrency seized.
TGR Group:
– Provided with access to international finances, bypassing sanctions.
– Organized money laundering, cash-to-cryptocurrency exchange, prepaid credit card services, and concealed sources of income.
– Used to support cybercriminals, including the Ryuk ransomware, which laundered over $2.3 million in 2021.
Smart Group:
– Financed espionage operations in the interests of Russia between 2022 and 2023.
– Involved in the laundering of cryptocurrency funds for drug traffickers and other criminal groups in the UK.
The Smart and TGR networks operate from the Federal Tower in Moscow,In connection with the arrests, the US Treasury Department imposed sanctions on five individuals and four companies associated with TGR Group. Notably, these networks have extensive connections with other illegal organizations that use cryptocurrencies to circumvent sanctions.
Destabilization operations are part of the global fight against cyber and financial crimes. Since 2023, Smart and TGR have been actively using digital assets, including stablecoins, to circumvent international sanctions and fund UK property acquisition transactions.
The TGR and Smart Group disclosures underscore the seriousness of cyber threats related to money laundering and sanctions evasion. Fighting such schemes requires international cooperation and the implementation of stricter cyber security rules.
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