A crypto scandal shakes the digital currency world. Russia’s “Crypto Queen” Valeria Fedyakina, known as “Bitmama,” is under investigation for major cryptocurrency fraud. She allegedly hid millions in cash-filled suitcases and ran fake investment schemes.
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Inside the Crypto Scandal: How Russia’s ‘Crypto Queen’ Valeria Fedyakina Hid Millions in Suitcases
Bitmama’s Rise and Fall
Fedyakina gained fame on social media as a crypto millionaire. She showed off a rich lifestyle, claiming it came from crypto success.
The Scheme Exposed
Prosecutors have finished their initial probe into Fedyakina. They found evidence of widespread fraud. TV channel Vesti showed videos of Fedyakina opening suitcases full of euros.
A man who used Fedyakina’s services said:
“[She told me:] ‘I have people who work in armored cars. They come, and they take cash from you. They bring it to my office. You hand over the money here, and you receive it in Dubai.’”
Massive Fraud Claims
The scale of Fedyakina’s alleged crimes is huge. One victim claims he gave her 6.7 billion rubles (about $70 million) in cash. A reporter said, “You could fit a million dollars into a suitcase like this.”
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Fake Investment Plans
Fedyakina allegedly tricked investors with false schemes. These included hotel projects in Dubai and oil ventures. The same man told Vesti about an oil investment offer:
“She told me: ‘Come on. Let’s buy oil ourselves. Let’s export it ourselves. And then let’s sell it by ourselves.’ She asked me to make an initial investment of around $8 million.”
Legal Troubles
Fedyakina has been in jail for over a year during the investigation. She gave birth in custody and is now in a special cell with childcare.
Ivan Mironov, a victim’s lawyer, explained:
“Fedyakina used official-looking documents and serious-looking PR materials […]. She wanted to give the impression she was the kind of financial genius that could turn over a billion [rubles] in a day.”
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Fedyakina faces charges of “fraud on an especially large scale.” If found guilty, she could spend up to 10 years in prison. This crypto scandal shows the risks of unregulated crypto operations and the need for careful checking in digital assets.
