The content discusses the case of Russian crypto influencer Valeria Fedyakina, also known as “Bitmama,” who has been dubbed the “crypto queen.” Fedyakina allegedly took “suitcases full of cash” from individuals who used her exchange services to send money abroad, with some suspecting that she used Bitcoin as a remittance tool. Fedyakina’s activities were exposed in a detailed report aired on the TV news channel Vesti, which included videos of her with suitcases filled with euro banknotes. Prosecutors and police believe she orchestrated various crypto-themed fraud projects and have accused her of committing fraud on an especially large scale.
The report reveals that Fedyakina built up a significant following on social media, where she portrayed herself as a wealthy individual who had amassed her fortune through crypto investments. She was arrested over a year ago in Moscow on charges of cryptocurrency investment fraud, with one victim alleging that he handed her over 6.7 billion rubles, equivalent to almost $70 million. The victim claims that Fedyakina promised to facilitate cash transfers to Dubai through her crypto-powered operations, involving armored cars to collect the funds and deliver them to her office.
Fedyakina is accused of persuading investors to put their money into dubious schemes, including Dubai-based projects and oil-related ventures, with one victim claiming she encouraged him to invest $8 million in an oil-buying project. Her lawyer defended her actions, stating that she used official-looking documents and PR materials to give the impression of being a financial genius capable of generating significant profits in a short period. Fedyakina has been in prison for over a year, and despite her pregnancy at the time of her arrest, the court refused to release her. She later gave birth while in custody and has been moved to a special cell with childcare facilities.
Fedyakina’s legal team is reportedly reviewing the case materials as the prosecution prepares to present its case at trial. If convicted, Fedyakina could face up to 10 years in a penal colony. The media coverage of her case has shed light on the potential dangers of crypto-related scams and fraudulent activities within the industry. The exposure of Fedyakina’s alleged fraudulent schemes serves as a cautionary tale for investors and individuals looking to engage in crypto transactions, emphasizing the importance of due diligence and skepticism when dealing with high-risk investment opportunities. The outcome of Fedyakina’s trial will likely have implications for the regulation of cryptocurrencies and the enforcement of laws against financial fraud in Russia.
