$25M BTC is entangled in this politically-flavored fraud scheme, putting a once-prominent crypto influencer behind bars.
Everybody can do their part in Ukraine’s crypto donations, even the renegades on the other side of the front. Valeria Fedyakina, the most infamous ‘Russian Crypto Queen’ behind the $25 million Bitcoin (BTC) fraud, has been sentenced to 7 years of imprisonment in one of the strictest Moscow penal colonies.
Wealthy Russians Lured In $25M Bitcoin Fraud
Dubbed as ‘Bitmama’, the Russian lady scammed 4 wealthy victims out of 2.2 billion Rubles (RUB) in a matter of two months. She lured in crypto investors by promising them to move the otherwise Western-sanctioned funds to a safe crypto platform for big-time players in Dubai, UAE.
On top of that, the 30-year old Valeria portrayed a successful & luxurious lifestyle on her social media, making serious businessmen fall for the image. Originating from Simferopol, Russia, this ‘Crypto Queen’ promised a solid 1% bonus on all funds transferred to the made-up crypto platform.
Matter of fact, the juicy deal was that her supposed clients didn’t have to deposit crypto at all, as it would be done through offshore deals without any commission, so her wealthy victims actually expected to get 1% more once the deposits are cleared on-chain.
What happened next was a bunch of creme-de-la-creme meetings in 5-star hotels in Moscow. The fancy dinners in the Russian capital turned out to be a huge success, with her assistants counting up millions of dollars per day, sometimes even pocketing $15 million in a few hours.
From Dubai’s Glory To Moscow’s Darkest Spots
Once the funds arrive in the United Arab Emirates, it’s washed through the oil, mineral & gold trades, and when it’s legitimized it’s sent directly to the Ukrainian Defense Forces. Needless to say, this fact didn’t bode well with Russia’s boss.
In September 2023, the 6-month pregnant Valeria tried to flee to Dubai, but with no success. The authorities captured her & kept the young mother in a special maternity hospital until she gave birth, then Ms. Fedyakina was sent straight behind bars in the super rough SIZO No. 6 facility.
Not only did Vladimir Putin slap a 7-year sentence in the Presnensky District Court in Moscow, but Valeria was also ordered to pay back a whopping 2.2 billion Rubles, which is the same $25 million she originally stole. However, the prosecutors at Moscow district courts said the cash “disappeared”, even though the most likely outcome it’s funneled to Ukraine’s Defense.
On The Flipside
Why This Matters
Crypto has played a pivotal part in the nearly 4-year old war in the middle of Europe, bringing many benefits due to fast processing times, but also giving leeway for manipulation practices.
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