• 128 arrests and $32.6 million seized: The National Crime Agency’s update shows significant progress since December 2024, with 45 additional suspects detained.

• Networks span 28 UK locations, converting illicit cash from drugs, firearms, and trafficking into cryptocurrency to finance organized crime and Russian military supplies.

• TGR network head George Rossi linked to Altair Holding SA’s 75% purchase of Kyrgyzstan’s Keremet Bank on December 25, 2024, enabling payments for sanctioned Russian bank Promsvyazbank.

Discover how Operation Destabilise disrupts crypto money laundering tied to Russian sanctions evasion. Learn about arrests, seizures, and impacts on global networks—stay informed on crypto’s role in illicit finance today.

What is Operation Destabilise and Its Role in Combating Crypto Money Laundering?

Operation Destabilise is a UK-led law enforcement effort targeting Russian sanctions evasion through crypto money laundering networks, resulting in 128 arrests and $32.6 million in seized assets as of November 2025. Launched in 2024, it focuses on groups converting illicit cash into cryptocurrency to fund organized crime and Russia’s military activities in Ukraine. The National Crime Agency (NCA) has expanded its scope, revealing operations across 28 UK towns and cities.

How Do Russian-Linked Networks Use Cryptocurrency for Sanctions Evasion?

Russian-linked networks, including Smart and TGR, collaborate to launder money for international crime syndicates while helping sanctioned individuals invest in the UK. These groups collect cash from drug sales, firearms trafficking, and human smuggling, then convert it to crypto via couriers. The NCA’s investigations show TGR’s leader, George Rossi, connected to Altair Holding SA, which acquired a 75% stake in Kyrgyzstan’s Keremet Bank on December 25, 2024. This bank has facilitated cross-border payments for Russia’s state-owned Promsvyazbank, a key financier for military suppliers. Promsvyazbank also backs A7A5, a ruble-pegged stablecoin that evaded sanctions and hit $40 billion in transaction volume by July 2025. According to blockchain analysis, such networks operate transnationally, using crypto over-the-counter (OTC) desks and shell companies to move billions across Europe, the Middle East, Central Asia, and Asia. Experts note that while enforcement actions disrupt specific channels, laundering often reroutes to new high-risk platforms, making complete eradication challenging.

Frequently Asked Questions

What Has Operation Destabilise Achieved in Crypto Money Laundering Investigations?

Operation Destabilise has achieved 128 arrests and seized $32.6 million in crypto and cash, up from 84 arrests and $25.5 million in December 2024. It exposed networks like Smart and TGR operating in 28 UK locations, restricting their access to legitimate banking in Western Europe and creating reservations about London-based activities.

How Does Cryptocurrency Facilitate Russian Sanctions Evasion in the UK?

Cryptocurrency enables Russian sanctions evasion in the UK by allowing quick conversion of illicit cash into digital assets, bypassing traditional financial controls. Networks use OTC platforms and stablecoins like A7A5 to fund military efforts, with transactions totaling billions. Voice search queries often highlight how these methods support organized crime, but enforcement like Operation Destabilise is increasing risks and reducing volumes on key exchanges.

Key Takeaways

• Expanded Scope: Operation Destabilise now covers 28 UK areas, targeting cash-to-crypto conversions funding Russian military via banks like Keremet.
• Seizure Impact: $6.6 million additional cash seized, alongside drops in activity on platforms like NetEx24 and Bitpapa post-sanctions, averaging over 80% reduction.
• Ongoing Challenges: Laundering persists globally; monitor blockchain data and support stricter OTC regulations to curb evasion.

Conclusion

Operation Destabilise marks a critical step in dismantling crypto money laundering networks linked to Russian sanctions evasion, with 128 arrests and $32.6 million seized highlighting the NCA’s resolve. By exposing connections to entities like Promsvyazbank and A7A5 stablecoin, it underscores cryptocurrency’s dual role in finance and crime. As these transnational operations adapt, continued international cooperation will be essential to further restrict illicit flows and protect global financial integrity—explore more on emerging crypto regulations to stay ahead.