In brief
- Self-styled Russian crypto expert “Bitmama” has been sentenced to seven years in prison for a $23 million Bitcoin fraud disguised as offshore investments.
- Russian prosecutors say she lured clients by promising to convert funds in Dubai to avoid Western sanctions.
- Her arrest comes amid rising concerns over Russia’s use of crypto to bypass sanctions and fund covert operations.
A Russian mother who branded herself as a crypto expert has been sentenced to seven years in prison by a Moscow court after orchestrating a ruthless pyramid scheme that defrauded investors of $23 million (2.2 billion rubles) worth of Bitcoin in just 60 days in 2023.
Valeria Fedyakina, from Simferopol, posed as “Bitmama,” a legitimate crypto trader with…
Jun 28 2025
