Close Menu
Cryprovideos
    What's Hot

    Crypto Dominance Charts: The Hidden Sign Most Merchants Miss

    August 8, 2025

    WLFI Launches Reward Program for USD1 Stablecoin Customers

    August 8, 2025

    Trump To Signal Govt Order Permitting 401(okay) Crypto Funding

    August 8, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Bitcoin»Russian Mom and Self-Styled 'Crypto Knowledgeable' Jailed Over $23M Bitcoin Rip-off – Decrypt
    Russian Mom and Self-Styled 'Crypto Knowledgeable' Jailed Over M Bitcoin Rip-off – Decrypt
    Bitcoin

    Russian Mom and Self-Styled 'Crypto Knowledgeable' Jailed Over $23M Bitcoin Rip-off – Decrypt

    By Crypto EditorJune 27, 2025No Comments4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Russian Mom and Self-Styled 'Crypto Knowledgeable' Jailed Over $23M Bitcoin Rip-off – Decrypt

    Briefly

    • Self-styled Russian crypto skilled “Bitmama” has been sentenced to seven years in jail for a $23 million Bitcoin fraud disguised as offshore investments.
    • Russian prosecutors say she lured purchasers by promising to transform funds in Dubai to keep away from Western sanctions.
    • Her arrest comes amid rising considerations over Russia’s use of crypto to bypass sanctions and fund covert operations.

    A Russian mom who branded herself as a crypto skilled has been sentenced to seven years in jail by a Moscow court docket after orchestrating a ruthless pyramid scheme that defrauded buyers of $23 million (2.2 billion rubles) price of Bitcoin in simply 60 days in 2023.

    Valeria Fedyakina, from Simferopol, posed as “Bitmama,” a reliable crypto dealer with international places of work, promising purchasers she might switch their cash overseas utilizing crypto to bypass Western sanctions, in response to The Telegraph.

    As a substitute, Russian prosecutors stated she emptied her purchasers’ accounts, in what turned one of many nation’s largest current crypto fraud circumstances.

    The fraud occurred as Western sanctions tightened Russia’s entry to conventional banking, making crypto a lovely various for Russians in search of to maneuver cash overseas.

    Moscow’s Presnensky District Courtroom sentenced Fedyakina on June 24 to serve time in a penal colony and ordered her to pay $23 million in compensation to her victims.

    The prosecution had sought the utmost 10-year sentence below Russia’s fraud statutes.

    “Russian crypto criminals use regulatory arbitrage, organising entities in looser jurisdictions (like components of the UAE) to masks Russian origins, transfer funds cross-border, and exploit weak KYC/AML enforcement,” Deddy Lavid, CEO at blockchain safety agency Cyvers, advised Decrypt.

    Fedyakina, 30, operated her enterprise informally below the “Bitmama” and “Bitmama Finance,” arranging offers in Moscow luxurious inns and funnelling funds to the UAE through crypto wallets.

    She did the crime “below the guise of investing in her actions within the transportation and buy and sale of oil, oil merchandise, gold, and different minerals,” a spokesperson for the Investigative Committee of Russia stated, as cited in The Telegraph.

    “Bitmama” reportedly advised victims she would swap their cash for digital foreign money in Dubai to keep away from sanctions, however the funds quickly disappeared into her crypto wallets saved within the UAE.

    The indicted’s private assistant advised investigators that purchasers initially introduced $2-3 million (200-300 million rubles) every day to the workplace, with quantities later reaching $15 million (1.5 billion rubles) per day, native information outlet Izvestia reported.

    Fedyakina was arrested on September 15, 2023, as she tried to flee Russia for the UAE.

    Regardless of being six months pregnant, she was detained and later gave delivery in jail, remaining together with her daughter in Moscow’s SIZO No. 6 detention middle.

    The case represents a distinctly totally different sample from state-backed crypto operations, in response to Alice Frei, head of safety and compliance at Outset PR.

    “Prison schemes like Fedyakina’s are disorganized and opportunistic,” Frei advised Decrypt. “They depend on funds from dispersed victims, usually via scams, phishing, or false funding schemes.”

    “These operations sometimes favor stablecoins like USDT or USDC, permitting for extra predictable worth retention and cross-border use,” Frei famous, saying that fraudsters exploit regulatory gaps between jurisdictions, notably leveraging the UAE’s crypto-friendly setting.

    Russia and crypto

    In the meantime, blockchain investigations have uncovered Russia’s rising reliance on cryptocurrency to fund intelligence operations.

    A current Reuters probe revealed how Russia’s Federal Safety Service (FSB) used Bitcoin to pay teenage and untrained spies throughout Europe.

    Earlier this month, U.S. authorities charged Ian Mausner with working a $500 million crypto fraud scheme, alleging he misled buyers and funneled funds into Russian-linked markets whereas concealing ties that would violate worldwide sanctions.

    Each day Debrief E-newsletter

    Begin daily with the highest information tales proper now, plus authentic options, a podcast, movies and extra.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Crypto Dominance Charts: The Hidden Sign Most Merchants Miss

    August 8, 2025

    Trump To Signal Govt Order Permitting 401(okay) Crypto Funding

    August 8, 2025

    Japanese Nail Salon Goes Inexperienced Bitcoin Mining, Korea Stablecoin AML Critiques and Extra

    August 8, 2025

    $5B in USDT Minted on Tron as Fed Inaction Sparks Crypto Liquidity Surge

    August 8, 2025
    Latest Posts

    Japanese Nail Salon Goes Inexperienced Bitcoin Mining, Korea Stablecoin AML Critiques and Extra

    August 8, 2025

    Bitcoin Traders Flip To 'Sensible DCA' As Market Trades Under On-Chain Honest Worth Of $117,700

    August 8, 2025

    XRP Bullrun After $3.26 Breakthrough? Bitcoin (BTC) $115,000 Breakout Secured, Solana (SOL): 84% Volatility Explosion?

    August 8, 2025

    Can Bitcoin ETFs be hacked?

    August 8, 2025

    Bitcoin Advances After Trump Faucets Bitcoin-Pleasant Economist For Fed Position – Decrypt

    August 8, 2025

    Trump Indicators Govt Order Permitting Bitcoin in 401(okay) Plans

    August 8, 2025

    Bitcoin Hyper Unlocks Actual Utility for BTC as Value Consolidates Above $110K

    August 7, 2025

    Elon Musk Shares Well-known Bitcoin Meme

    August 7, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Max Value Prediction: As MAX Jumps 3%, A Shopping for Frenzy Erupts Round This New PEPE AI Agent Crypto Rival

    January 19, 2025

    Is It Too Late To Purchase PNUT? Peanut The Squirrel Worth Skyrockets 1,806% In A Week And This Would possibly Be The Subsequent Crypto To Explode

    November 17, 2024

    Money Recreation Poker In USDT: Watch Crypto Poker With Commentary In The Mid Stakes World Championship

    June 24, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.