Russian ‘Bitmama’ Sentenced to 7 Years for £20 Million Bitcoin Scam!
Have you heard of Valeriya Fedyakina? If not, get ready to meet the queen of crypto scams! This Russian woman, known as ‘Bitmama,’ has just been sentenced to seven years in prison for running a pyramid scheme that drained her clients’ accounts of a staggering £17 million — about €20 million — all in just 60 days.
How Did It All Start?
Fedyakina presented herself as a cryptocurrency expert with alleged offices worldwide. She promised huge returns to those who entrusted her with money. Her scheme was so ruthless that within two months, she managed to steal 2.2 billion rubles, roughly €20 million.
The Dubai Crypto Trick
She claimed she would convert her victims’ money into cryptocurrency in Dubai to avoid Russian sanctions. Victims were promised a 1% bonus on their deposited amount after conversion, but the money soon vanished. It was all a sham — Fedyakina intended to steal the money and defraud an unknown number of people.
What Did the Investigative Committee Say?
The fraud was disguised as investments in transport, buying and selling oil, petroleum products, gold, and other minerals. Some reports suggest the stolen currency was transferred to Ukraine to support the Ukrainian army against Russian troops, but these claims remain unconfirmed.
Arrest and Trial
Fedyakina was arrested while trying to flee Russia to the United Arab Emirates, despite being six months pregnant. After her arrest, she gave birth to a daughter in a prison maternity hospital and was then returned to her cell. Despite her pleas, on June 24 in Moscow, she was sentenced to seven years in prison and ordered to pay 2.2 billion rubles in compensation to her victims.
Did She Support the Russian Military?
Her legal team claims Fedyakina supports the Russian invasion of Ukraine and denies guilt for fraud. They also stated she was willing to financially support the Russian military.
What Can We Learn?
This story is a warning to anyone thinking about entering the crypto world. If someone promises you quick and safe profits, it might just be another pyramid scheme. And it’s not just a Russian problem — these scams happen everywhere.
Conclusion
Valeriya Fedyakina, or as the media calls her ‘Bitmama,’ is not just a fraudster — she’s a symbol of the dangers lurking in the crypto world. Seven years behind bars and millions in compensation might be a lesson for others, but how many more ‘queens’ are waiting to scam us?
If you’ve ever encountered similar scams or have thoughts on cryptocurrencies, drop a comment below. Maybe together we can expose more ‘Bitmamas’!
Source: Blic, The Telegraph
