Dark Web Crypto Exchange RAKS Shut Down

Introduction

Kazakhstan has carried out a major financial crime operation, shutting down the underground crypto exchange RAKS. The platform is accused of laundering millions of dollars through darknet marketplaces. This marks another step in the global crackdown on unregulated crypto platforms operating in the shadows of the dark web.

Kazakhstan Shuts Down RAKS Exchange

According to official reports, Kazakhstan’s financial crime agency froze 67 wallets holding nearly 10 million USDT and linked RAKS to more than 224 million USD in illicit transactions. The exchange had been operating secretly for three years, collaborating with over 200 drug shops and several of the largest darknet marketplaces. Signs of collapse appeared even before the takedown, as RAKS’ social media accounts disappeared, customer support was shut down, and online forums warned about unpaid obligations.

Dark Web Faces Global Crackdowns

Over the past year, law enforcement agencies worldwide have stepped up their efforts to dismantle crypto-related darknet marketplaces. In June 2025, the U.S. Department of Justice and Europol jointly shut down one of the largest Monero-based markets. Additionally, one of the biggest fentanyl marketplaces on the dark web was dismantled with the support of Binance. After Hydra, the largest darknet platform, was shut down in 2022, the ecosystem became fragmented, fueling demand for new money laundering channels. Exchanges like RAKS filled that gap, but growing enforcement pressure has made it increasingly difficult for such platforms to survive.

The Nature of Underground Exchanges

Unlike legitimate exchanges, RAKS never disclosed its owners, licenses, or audit records. Instead, it maintained ties with darknet marketplaces that relied on it for money laundering and liquidity. This reflects an old pattern: underground crypto exchanges appear stable on the surface but are in fact pipelines for illegal markets. Once exposed, they collapse overnight, leaving users locked out of funds while regulators are left to trace the lost money.

Conclusion

The takedown of RAKS highlights the broader global trend of shutting down illegal crypto exchanges, particularly across the Eurasian region. It serves as a stark warning to other darknet-based platforms that their downfall is only a matter of time as regulators tighten control.

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