UK Dismantles Billionaire Stablecoin Laundering Scheme Supporting Russia’s War Effort

The UK National Crime Agency (NCA) has taken down a massive, billion-dollar operation that illegally laundered money to support Russia’s war in Ukraine. The investigation, codenamed Operation Destabilise, exposed how criminals leveraged stablecoins like Tether (USDT) to evade sanctions and funnel funds from illicit activities to Russian entities. The network stretched from Moscow to Dubai and London before ultimately diverting the funds through a Kyrgyz financial institution.