Majority of Russia’s Financial Pyramids in Q1 Linked to Crypto, Scammers Expl...
Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian Investors Ways to Circumvent Western Sanctions Amid growing financial uncertainty, Ponzi schemes advertising opportunities to invest in digital assets are mushrooming in Russia. Of all financial pyramids detected by regulators in the first three months of 2022, well over half have used cryptocurrency as....
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A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access to crypto assets.
Russian Pyramids Take Advantage of Western Sanctions and Popularity of Crypto
Over 56% of the pyramid schemes in the Russian Federation during the first half of the year, or 537 entities, raised funds in various cryptocurrencies or advertised crypto investments, a....
An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand.
Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of Russia Says
Financial pyramids and illegal forex dealers in Russia, many of which now specialize in offering crypto investment and settlement opportunities, are moving offline, the daily Izvestia reported quoting the Central....
Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal Cases Linked to Crypto Assets The Federal Financial Monitoring Service of the Russian Federation, also known as Rosfinmonitoring, is trying to unravel around 400 cases in which cryptocurrencies are involved. The agency’s director, Yury Chikhanchin, revealed the number during a meeting with....
Crypto scammers have been busy making millions at the cost of iPhone users who were merely looking for romance on dating apps. Wherever there is great profit, fraud comes to trick its way into a promised land. The increase of scammers has been widely reported this year. They are a real danger for cryptocurrency users. […]
Crypto scams have been on the rise with the bull rally but scammers have found another medium to perpetuate their scams. YouTube has always been an effective marketing and influencing tool in the space, which is why it is sometimes a prime target for scammers. This time around, scammers have found another way to separate […]