27.06.2025 15:45

A Moscow court handed down a seven-year prison sentence to Valeria Fedyakina, a Russian citizen residing in Simferopol, for masterminding an elaborate Bitcoin Ponzi scheme. Operating under the pseudonym "Bitmama," Fedyakina cultivated an image of a trustworthy international cryptocurrency trader, capitalizing on the complexities of global finance.

Fedyakina's fraudulent activities, revealed through reports from various internet sources, involved attracting investors with the promise of seamless cross-border cryptocurrency transfers designed to bypass Western sanctions. This deceptive strategy proved remarkably effective, enabling her to amass approximately $23 million USD (or 22 billion rubles) in Bitcoin from unsuspecting victims within a mere two months in 2023.

This significant case serves as a stark warning about the escalating risks inherent in the unregulated aspects of the cryptocurrency market. The conviction underscores the growing regulatory pressure to combat fraudulent schemes within the digital asset space. Authorities are increasingly emphasizing the crucial need for thorough due diligence and unwavering investor caution in navigating the complexities of the ever-evolving cryptocurrency landscape. The incident highlights the vulnerability of investors who fail to adequately scrutinize investment opportunities before committing their funds.