The U.K. National Crime Agency (NCA) led a multinational operation codenamed “Operation Destabilise” targeting two Russian money laundering networks – Smart and TGR – based in Moscow’s Federation Tower. The operation resulted in:

Key Outcomes:
– 84 suspects arrested
– £20 million ($25.4 million) in cash and cryptocurrency seized
– U.S. Treasury sanctions on 5 individuals and 4 entities linked to TGR Group

Network Activities:
– Facilitated sanctions evasion using stablecoins
– Provided illegal financial services
– Laundered cryptocurrency for cybercriminals
– Enabled property purchases for Russian elites
– Funded Russian espionage operations

Notable Figures:
– Ekaterina Zhdanova (Smart Group leader)
– Connected to Ryuk ransomware group
– Laundered $2.3 million in 2021

The operation marks the first documented connection between Russian elites, cyber criminals, and drug organizations operating through these networks to access Western economies despite sanctions.