Bitcoin

Million

when

Influencer

<p>Russian social media influencer <a href="https://nypost.com/2024/10/22/world-news/russian-queen-of-crypto-stole-22m-to-fund-ukrainian-army-reports/" target="_blank" rel="noreferrer noopener">Valeria “Bitmama” Fedyakina</a> is facing serious allegations of embezzling $22 million in cryptocurrency. She has been charged with attempted cross-border internet payment fraud, a crime that could lead to 10 years in prison. This case has drawn attention because of its impact on both the crypto industry and international finance.</p>   
<p>At first, there were rumors that Fedyakina had used her funds to support the Ukrainian military or other militia groups. However, the current charges focus only on her alleged fraud within the <a href="https://coinpedia.org/news/crypto-news-today-oct-22nd-2024-btc-below-67k-eth-aim-for-3k-memecoin-showing-gains/" target="_blank" rel="noreferrer noopener">cryptocurrency market.</a></p>   
<h2 class="wp-block-heading" id="h-understanding-the-scheme">Understanding the Scheme </h2>   
<p>Fedyakina is accused of tricking four Nigerian businessmen by offering them a supposedly profitable chance to exchange cash internationally using <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin technology</a>. This method became popular in Russia, especially after various sanctions were imposed due to the ongoing conflict in Ukraine.</p>   
<p>Presenting herself as an international businesswoman, Fedyakina claimed she could help transfer money across borders using crypto assets. She also attracted more victims by promoting a fake energy transport investment plan that promised high returns. Instead of delivering on her promises, she allegedly stole their money, leaving these businessmen facing significant financial losses.</p>   
<h2 class="wp-block-heading" id="h-tracking-the-legal-proceedings-it-s-complicated">Tracking the Legal Proceedings - It's Complicated! </h2>   
<p>Despite initial claims about supporting the Ukrainian military, many media outlets have not reported on the specific charges now facing Fedyakina in court. According to the <a href="https://tass.ru/proisshestviya/22151851" target="_blank" rel="noreferrer noopener">Russian state media outlet TASS</a>, the allegations are primarily about economic crimes and scams.</p>   
<p>Fedyakina was arrested while pregnant and has since given birth, which may lead to a lighter sentence due to her new status as a mother.</p>   [post_titles_links postid="370781"]   
<h2 class="wp-block-heading" id="h-the-dark-side-of-cryptocurrency">The Dark Side of Cryptocurrency</h2>   
<p>Fedyakina’s experience shows that free crypto space can be filled with scams, especially when a large amount of money is at stake as in cross-border payment. Most of the time they will always use the guise of legit business to con their victims.&nbsp;</p>   
<p>As the use of crypto continues to rise in sanctioned nations such as Russia, it is imperative that the sector step up its security and precaution measures even further.</p>   
<p><strong>What do you think about this shocking case? Share your thoughts.</strong></p>

Crypto Influencer “Bitmama” Arrested! $22 Million Scam Exposed

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