The Russian Central Bank warns of large-scale shift of Russian pyramid schemes to cryptocurrencies

MarsBitNews · 2026-03-02T02:08:07+00:00

The Central Bank of Russia warns that financial pyramid organizers are heavily using cryptocurrencies, involving 4,600 wallet addresses by 2025. Of the 7,087 fraudulent schemes, 80% operate online, and 84% of scammers use cryptocurrencies to raise funds. The Central Bank will strengthen monitoring and block related websites.

MarsBitNews

2026-03-02 02:08:07

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Mars Finance reports that, according to DL News, the Central Bank of Russia has warned that the country’s financial pyramid organizers have increasingly turned to using cryptocurrencies. In 2025, Russian citizens sent funds to over 4,600 cryptocurrency wallets associated with fraudsters. Last year, the central bank identified 7,087 fraudulent schemes including financial pyramids and fake brokers, with 80% operating online, most using cryptocurrencies and money mules to transfer funds. In 2025, 84% of fraudsters used cryptocurrencies to raise funds, up from 77% in 2024. The Russian central bank has ordered the blocking of 21,500 related web pages and social media posts. The bank pointed out that fraudsters choose cryptocurrencies to maintain anonymity and evade punishment, and pledged to strengthen monitoring and crack down on crypto fraud.

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