📉 Cryptocurrency exchanges have allowed Russians in Estonia and Latvia to bypass sanctions and convert rubles into other currencies. The investigation examined 300 crypto companies registered in Estonia and found dozens of violations. This includes fraud, money laundering, sanctions evasion and financing of Russian organizations. It was revealed that more than €1 billion may have been laundered through crypto exchanges in Estonia. Platforms such as Coinsbit and MEXC allowed users to convert Russian rubles into Bitcoin without identity checks. After Estonia tightened regulation of crypto exchanges in 2022, many companies moved to neighboring Lithuania.