Another Dark Web Crypto Takedown and Exchange Closure

Kazakhstan’s financial crime agency has dismantled the RAKS crypto exchange, accusing it of laundering millions through darknet marketplaces. 

Authorities froze 67 wallets holding nearly 10 million USDT and linked the platform to $224 million in illicit flows.

Throughout this year, multiple law enforcement efforts have been made to shut down dark web crypto marketplaces. In June, the DOJ and Europol collaborated to shut down one of the largest Monero-based darknet markets. 

Also, authorities took down one of the biggest fentanyl markets on the dark web with the help of Binance. 

This week, the latest action came from Kazakhstan, as the authorities took down the RAKS crypto exchange. 

The exchange operated in secrecy for three years. Investigators say it worked with more than 200 drug shops and collaborated with 20 of the largest darknet markets.