As an analyst with over two decades of experience in the financial sector, I find myself intrigued by the case of Valeria Fedyakina, the self-proclaimed “Crypto Queen.” The allegations against her are severe, involving large-scale crypto fraud and swindling activities that reportedly include funding for the Ukrainian military.
A well-known social media figure, Valeria Fedyakina (also known as the “Crypto Queen”), might spend up to a decade in a Russian prison due to her conviction of crypto fraud. She is currently under investigation for alleged massive scams that purportedly involved supporting the Ukrainian military during the ongoing conflict between Ukraine and Russia.
‘Crypto Queen’ Denies The Allegations
Fedyakina denied the accusations of deceit leveled against her by RIC, insisting that she had not engaged in any form of fraud. However, she expressed her backing for the military action taken by Russia in Ukraine when speaking to Russian news outlets.
In their argument, the lawyers for Fedyakina pointed out that she doesn’t have a criminal record, suggesting the possibility that she may have been caught up in a larger plot or conspiracy.
In September 2023, Russian officials apprehended Fedyakina as she attempted to embark on a flight bound for the United Arab Emirates (UAE). Ever since that incident, she has been accommodated in a remand center along with her baby, pending trial.
Based on current news, it is expected that the Russian officials will file a fraud charge against her by November. In case of a guilty verdict, she might face up to ten years behind bars.
$22 Million In Crypto Stolen
Based on findings by a Russian investigative body, it appears that the infamous ‘Crypto Queen’ managed to swindle approximately $22 million worth of cryptocurrencies from unsuspecting investors.
Following the submission of their investigation, RIC suggested filing criminal charges against her due to alleged fraudulent activities. The investigative team claimed that Fedyakina breached Part 4 of Article 159 of the Russian Criminal Code by unlawfully acquiring someone else’s property through deception.
Instead, Fedyakina denied any involvement in the accused crimes by entering a plea of not guilty.
No Tax Authority Registration
According to the findings from the investigation, it was discovered that Fedyakina’s ventures, ‘Bitmama’ and ‘Bitmama Finance’, have been running without the necessary legal registration. It was also uncovered that there is no record of her as a registered entrepreneur with the Russian tax agency.
In my analysis, it appears that I’ve uncovered evidence suggesting I may have been intending to mislead others and pocket their funds.
Her Modus Operandi
According to reports, Fedyakina portrayed herself as an authority on cryptocurrencies to earn the confidence of her prospective targets, ultimately intending to seize their digital currency holdings.
It was discovered that, in addition to Moscow, the ‘Crypto Queen’ operates a network of offices in significant places like Monaco, Dubai, Turkey, and Serbia across the globe.
Officials stated that Fedyakina tricked her victims into sending money to a cryptocurrency account in Dubai, using this tactic as a way to bypass limitations set by conventional banks.
In addition, she lured her victims by offering them a 1% incentive whenever they moved funds to her account for the purpose of cryptocurrency exchange.
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2024-10-23 23:11