Ponzi schemes attract Russians by mentioning cryptocurrencies
The Director of the Department for Combating Unfair Practices stated that it is worth using the services of companies that have a license from the Bank of Russia
16.02.2022 - 14:15
476
1 min
0
What’s new? In 2021, the Bank of Russia stopped the activities of 871 Ponzi schemes, four times more than the year before. According to Valery Lyakh, Director of the Bank of Russia’s Department for Combating Unfair Practices, 80% of them are “internet projects that help to invest in cryptocurrencies.” The total number of companies and projects with signs of illegal activity was 2679. The regulator stated that this number is 73% higher than in 2020.
Information on the Russian Central Bank’s website
What does Lyakh say? He urges investors to carefully select and analyze the projects they intend to invest in. The Director of the Department for Combating Unfair Practices emphasized that it is worth using the services of companies that have a license from the Bank of Russia. He added:
“One of the aspects of the problems of cryptocurrencies, the sheer number of them, that is the ability for fraudsters to issue them virtually in their garage. Some of the fraudulent cryptocurrency stories in the past literally advertised to install a program on your phone that would allegedly generate coins and you would be able to sell them on some exchange, fake on a fake.”
What had happened before? In 2021, the Bank of Russia proposed an initiative to restrict access to more than 3000 websites of illegal projects and Ponzi schemes. Most of the illegal participants of the securities markets offered the forex dealers’ services or called for investments in digital assets to multiply profits. Some posed as foreign brokers.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$63 871
BTC
-4.35%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.17
XRP
-4.69%
-
TRON
$0.160134
TRX
-1.59%
-
Dogecoin
$0.089106
DOGE
-4.73%
-
Zcash
$526.93
ZEC
-16.18%
-
Cardano
$0.18927
ADA
-11.45%
-
Stellar XLM
$0.209112
XLM
-7.74%
-
Polkadot
$3.32
DOT
+5.27%