Kazakhstan’s monetary crime company has dismantled the RAKS crypto trade, accusing it of laundering tens of millions by darknet marketplaces.
Authorities froze 67 wallets holding almost 10 million USDT and linked the platform to $224 million in illicit flows.
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Crypto’s Day In The Darkish Net Might Be Over
All through this yr, a number of legislation enforcement efforts have been made to close down darkish internet crypto marketplaces. In June, the DOJ and Europol collaborated to close down one of many largest Monero-based darknet markets.
Additionally, authorities took down one of many greatest fentanyl markets on the darkish internet with the assistance of Binance.
This week, the newest motion got here from Kazakhstan, because the authorities took down the RAKS crypto trade.
The trade operated in secrecy for 3 years. Investigators say it labored with greater than 200 drug retailers and collaborated with 20 of the biggest darknet markets.
🚫✴️🇰🇿 Kazakhstan simply shut down the infamous crypto service Raks Alternate.
This platform was a favourite within the felony underworld, partnering with 20 main Darknet markets with over 5M customers 😈. Authorities declare it’s “financial monitoring” — others name it digital…
— Solix Buying and selling (@Solix_Trade) September 29, 2025
The company stopped in need of naming these markets. Nonetheless, the ecosystem context factors to well-known Russian-language platforms that crammed Hydra’s void—equivalent to Mega, Blacksprut, Solaris, Kraken, and OMG!OMG!.
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Indicators of collapse emerged earlier than the crackdown. RAKS’ social media accounts vanished, buyer assist shut down, and discussion board posts flagged unpaid obligations.
Observers now view these as early warnings of its demise.
In contrast to regulated platforms, RAKS by no means disclosed house owners, licenses, or audits. No proof of partnerships with legit firms exists.
As a substitute, its “affiliations” have been reportedly with darknet marketplaces that relied on it for laundering and liquidity.
The case highlights an previous sample: shadow crypto exchanges that seem steady however function conduits for unlawful markets.
As soon as uncovered, they vanish in a single day, leaving customers locked out of funds and regulators scrambling to hint flows.
The RAKS takedown follows a broader pattern of focusing on illicit exchanges in Eurasia.
After Hydra’s 2022 shutdown, a fragmented market emerged, creating recent demand for laundering channels. Exchanges like RAKS match that hole till enforcement caught up.
