• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, January 31, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Russian Crypto Scammers Go Offline, Open Offices, Central Bank Worried About Trend – Bitcoin News

August 29, 2022
in Bitcoin
Reading Time: 4 mins read
A A
ShareShareShareShareShare

Related articles

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News

January 31, 2023

Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions

January 31, 2023

An increasing number of financial and crypto pyramids targeting Russian investors have been opening physical offices in the country. The Central Bank of Russia has recently expressed concern over the trend which is seen as an indication that the fraudsters expect growing demand.

Russian Crypto Scams Launch Offices to Lure More Investors In-person, Bank of Russia Says

Financial pyramids and illegal forex dealers in Russia, many of which now specialize in offering crypto investment and settlement opportunities, are moving offline, the daily Izvestia reported quoting the Central Bank of the Russian Federation (CBR).

For the first time in recent years, the organizers of such scams are opening offices where they try to convince potential victims to invest in virtual money or suggest services to bypass foreign sanctions and government restrictions. In-person contact is always more effective for that purpose, experts say.

They also warn that sharing information with dubious platforms often leads to loss of funds, either fiat or crypto. The trend of going offline indicates that scammers are preparing for a larger demand as Russians’ access to global financial assets has become extremely problematic, the report notes.

Sanctions imposed by the West over Moscow’s invasion of Ukraine and foreign currency restrictions introduced in response by Russian authorities have boosted interest in crypto assets. Many Russians have been buying bitcoin (BTC) or other cryptocurrencies and stablecoins to protect their funds from government measures or transfer them abroad.

Crypto Fraud on the Rise Due to Sanctions and Restrictions

According to data compiled by the Bank of Russia, financial pyramids have become much more active this year. In the first half of 2022, the regulator identified 954 such entities, compared to just 146 during the same period of last year. That’s over a six-fold increase.

The number of those offering investments in real or fake cryptocurrencies has continued to grow, too. More than half of the registered fraudulent schemes (56%, or 537 entities) raised funds in various digital assets or advertised investments in such.

Russia’s monetary authority believes that fraudsters are taking advantage of the radically changed operations of traditional financial institutions as a result of the sanctions which are affecting international settlements and investments in foreign assets.

The CBR recently eased some of its restrictions on access to foreign fiat for Russian citizens, allowing banks to increase the supply of U.S. dollar and euro cash to the public. It’s unclear yet how the change will influence interest in crypto which, according to a recent survey, remains relatively high in Russia.

Tags in this story
Bank of Russia, CBR, Central Bank, Crypto, Crypto Fraud, crypto pyramids, Crypto Scams, Cryptocurrencies, Cryptocurrency, fraudsters, Investors, Offices, Offline, Russia, russian, russians, scammers, Scams, Websites

Do you expect the number of crypto pyramid schemes to continue to grow in Russia? Share your thoughts on the subject in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Gutesa

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It


Credit: Source link

ShareTweetSendPinShare
Previous Post

Opinion: Why Ethereum’s ‘Merge’ Won’t Lower Gas Fees?

Next Post

Mysten Labs of Sui Blockchain Hacked on Discord

Related Posts

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News

January 31, 2023

During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S....

Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions

January 31, 2023

In the last year, many have claimed the crypto industry is under attack by U.S. regulators and recent data supports...

Tesla saw $204m loss with bitcoin last year

January 31, 2023

According to a U.S. Security and Exchange Commission filing, Tesla made a $204 million loss in gross impairment in 2022...

Bitcoin Kills Rent Seeking – Bitcoin Magazine

January 31, 2023

This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years...

Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital – Bitcoin News

January 31, 2023

On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S....

Load More
Next Post

Mysten Labs of Sui Blockchain Hacked on Discord

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions

January 31, 2023

FET/USD Resumes Upward as Price Touches $0.172 Level

January 9, 2023

Arizona State Senator Wendy Rogers Proposes Bills to Make Bitcoin Legal Tender

January 28, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News
  • Kazakhstan Seeks to Improve Cryptocurrency Trading Framework
  • Squid brings native cross-chain swaps to 25 blockchains

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,128.001.49%
  • ethereumEthereum(ETH)$1,585.001.19%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.01%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • binancecoinBNB(BNB)$312.151.78%
  • rippleXRP(XRP)$0.4073102.98%
  • binance-usdBinance USD(BUSD)$1.00-0.07%
  • cardanoCardano(ADA)$0.3918645.23%
  • dogecoinDogecoin(DOGE)$0.0959859.24%
  • matic-networkPolygon(MATIC)$1.111.95%
  • okbOKB(OKB)$37.730.52%
  • solanaSolana(SOL)$23.93-0.02%
  • staked-etherLido Staked Ether(STETH)$1,578.940.98%
  • polkadotPolkadot(DOT)$6.261.13%
  • shiba-inuShiba Inu(SHIB)$0.0000122.73%
  • litecoinLitecoin(LTC)$94.413.64%
  • avalanche-2Avalanche(AVAX)$19.820.61%
  • tronTRON(TRX)$0.062205-0.17%
  • daiDai(DAI)$1.00-0.03%
  • uniswapUniswap(UNI)$6.571.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,091.001.54%
  • cosmosCosmos Hub(ATOM)$13.362.49%
  • chainlinkChainlink(LINK)$6.940.64%
  • ToncoinToncoin(TON)$2.301.20%
  • leo-tokenLEO Token(LEO)$3.54-1.06%
  • moneroMonero(XMR)$177.801.00%
  • ethereum-classicEthereum Classic(ETC)$21.701.63%
  • AptosAptos(APT)$16.76-2.76%
  • bitcoin-cashBitcoin Cash(BCH)$133.222.29%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.0906900.76%
  • apecoinApeCoin(APE)$5.861.10%
  • quant-networkQuant(QNT)$142.461.12%
  • crypto-com-chainCronos(CRO)$0.0790451.72%
  • nearNEAR Protocol(NEAR)$2.331.58%
  • filecoinFilecoin(FIL)$5.232.49%
  • lido-daoLido DAO(LDO)$2.206.57%
  • algorandAlgorand(ALGO)$0.2425501.24%
  • vechainVeChain(VET)$0.0231830.63%
  • internet-computerInternet Computer(ICP)$5.881.78%
  • hedera-hashgraphHedera(HBAR)$0.0647071.04%
  • fantomFantom(FTM)$0.5413.92%
  • decentralandDecentraland(MANA)$0.75-0.43%
  • axie-infinityAxie Infinity(AXS)$10.890.90%
  • aaveAave(AAVE)$83.032.49%
  • the-sandboxThe Sandbox(SAND)$0.731.12%
  • eosEOS(EOS)$1.061.72%
  • flowFlow(FLOW)$1.078.85%
  • elrond-erd-2MultiversX(EGLD)$42.841.92%