Everybody can do their part in Ukraineโs crypto donations, even the renegades on the other side of the front. Valeria Fedyakina, the most infamous โRussian Crypto Queenโ 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 โBitmamaโ, 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.
Sponsored
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 โCrypto Queenโ 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 didnโt 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 Dubaiโs Glory To Moscowโs Darkest Spots
Once the funds arrive in the United Arab Emirates, itโs washed through the oil, mineral & gold trades, and when itโs legitimized itโs sent directly to the Ukrainian Defense Forces. Needless to say, this fact didnโt 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 โdisappearedโ, even though the most likely outcome itโs funneled to Ukraineโs Defense.
On The Flipside
- A recent report by Reuters discovered that a growing web of virgin European spies is actively encouraged by Russia with Bitcoin rewards.
- At this point, itโs hard to track how much money Fedyakina sent to Ukrainian Defense & how much was embezzled to keep up the lifestyle.
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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People Also Ask:
Valeria Fedyakina, aka ‘Bitmama’, is a Russian influencer accused of scamming $25M. She was jailed for allegedly funneling funds to Ukraineโs military.
Fedyakina allegedly defrauded 4 victims through a crypto pyramid scheme. Prosecutors claim she sent much of the money to support Ukraineโs army.
Russia sentenced her to seven years for fraud and aiding Ukraineโs war effort. The case reflects Russiaโs crackdown on crypto misuse and war opposition.
Authorities believe most funds went to Ukraineโs military, but specifics are unclear. No evidence details her personal spending on a luxury lifestyle.
Yes, her team denies the fraud and claims she supports Russiaโs invasion. They allege she was framed in a conspiracy.
