Russia’s 'crypto Queen' Involved in Cash Scandal
Russia’s well-known “Crypto queen” Valeria Fedyakina, popularly known as “Bitmama,” has recently been embroiled in a scandal involving the acceptance of "suitcases full of cash" from individuals using her Exchange services to transfer money abroad.
According to a detailed report aired by the TV news channel Vesti, the Crypto influencer was captured on camera opening suitcases filled with euro banknotes. Prosecutors and police suspect that she obtained this cash from people who wished to send funds to Dubai using Bitcoin as a remittance tool.
Accusations and Allegations
- Fedyakina is suspected of orchestrating various crypto-themed fraud projects.
- She amassed a significant online following by portraying herself as a wealthy jet-setter who made her fortune through crypto.
Izvestia reported that investigators have completed a preliminary probe into the self-declared “crypto queen." Anonymous sources revealed that Fedyakina and her Legal team are currently reviewing the case materials, with her detention extended until December 15 by the Moscow City Court.
Fraud Charges and Investigations
- Valeria Fedyakina faces charges of committing "fraud on an especially large scale."
- She was arrested in Moscow over a year ago for alleged cryptocurrency investment fraud.
One of Fedyakina’s supposed “victims” has been placed under state protection after claiming to have handed over nearly $70 million in cash to her. This individual expressed concerns about the large-scale cash Exchanges occurring in Fedyakina’s offices.
Financial Schemes and Investments
- Fedyakina allegedly persuaded investors to join investment projects related to Dubai-based hotels and oil ventures.
- She offered one individual the opportunity to invest in an “oil-buying project” with an initial investment requirement of around $8 million.
The media outlet noted that Fedyakina used official-looking documents and elaborate PR materials to create the impression of being a financial expert capable of generating substantial profits in a short period.
Legal Proceedings and Potential Penalties
Despite Fedyakina’s incarceration for over a year, her legal representatives have sought her release, citing her pregnancy during the arrest. However, the court rejected this request, and Fedyakina later gave birth while in custody, being transferred to a specialized facility with childcare amenities.
As the prosecution prepares to present its case at trial, Fedyakina’s defense team is gearing up for legal proceedings. If found guilty, Fedyakina could face up to 10 years in a penal colony for her alleged involvement in the financial scandal.
