Key Highlights RAKS Exchange laundered over $224 million in criminal funds. 5 million darknet users affected by the shutdown. 67 crypto wallets frozen, totaling 9.7 million USDT. Kazakhstan Shuts Down RAKS Cryptocurrency Exchange in Major Anti-Drug Operation Kazakhstan’s Financial Monitoring Agency (AFM) has announced the closure of the RAKS cryptocurrency exchange, a platform heavily involved in laundering money from drug trafficking and online fraud. The service operated for over three years and was a central part of the region’s shadow economy. RAKS Exchange’s Dark Network Uncovered The investigation revealed that RAKS collaborated with 20 of the largest darknet marketplaces, reaching over 5 million users. The platform laundered funds from more than 200 drug operations across Kazakhstan, Russia, Ukraine, and Moldova. Authorities estimate the total volume of transactions handled by the platform exceeded $224 million. AFM specialists analyzed over 4,000 crypto wallets, identifying those linked to criminal proceeds. As a result, 67 addresses connected to RAKS were blocked, freezing assets totaling 9.7 million USDT. The agency also noted clear signs that the service was shutting down. Social media accounts were deleted, customer support was suspended, and numerous complaints regarding unfulfilled financial obligations appeared on darknet forums. Impact on the Shadow Economy Officials stated that these measures dealt a severe blow to drug trafficking infrastructure, disrupting supply chains and reducing trust in illegal platforms. The shutdown of RAKS is expected to significantly impact darknet market operations in the region. Authorities continue efforts to identify the organizers behind RAKS. The AFM emphasized that combating money laundering through digital currencies remains a top priority. Earlier, authorities announced plans to establish a digital asset fund in Kazakhstan, further strengthening regulatory oversight.
