The scammers had branches in Moscow, Kazan, Dagestan, and Simferopol

Organizers of a 1 billion RUB crypto Ponzi scheme detained in Russia

23.03.2022 - 13:00

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1 min

What’s new? The Federal Security Service (FSB) has detained suspects in the organization of a crypto Ponzi scheme. The law enforcers estimated the preliminary amount of damage to be 1 billion Russian rubles (RUB). The participants of the pyramid were promised 500% per annum for investing in digital assets, Kommersant reports citing the FSB press service.

Material of Kommersant

Details of the case. The Ponzi scheme, Yusra Global, was organized in August 2019, the scammers had branches in Moscow, Kazan, Dagestan, and Simferopol, as well as offices in Turkey and Kazakhstan. The attackers created the appearance of successful operations by “artificially inflating quotes of digital assets.”

The criminals paid dividends at the expense of new pyramid participants. Four suspects were detained in Dagestan, two trying to leave the country. They face up to 10 years in prison and heavy fines.

Earlier in Russia, the first criminal case on the embezzlement of crypto exchange assets was opened. One of the suspects was detained with suitcases of cash worth a total of 190 million Russian rubles.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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