Moscow Instagram Model Arrested in $150 Million Crypto Fraud Case
In Brief
Valeria Fedyakina, also known as Bitmama, was arrested on suspicion of fraud on a large scale. Fedyakina took money from a friend, promising to return them with a 1% bonus. The man realized he had been deceived and contacted the police. The court placed Fedyakina under arrest, despite her pregnancy, and journalists believe these measures are related to her residence permit in the UAE.
Valeria Fedyakina as Bitmama, emphasized personal communication and shared stories of upheaval through gold, oil, diamonds, and precious metals. She claimed to have better exchange conditions than everyone else on the market. No one refused to meet her, and she brought bouquets the size of a Boeing. The plan was to finish the work with a kick from the beginning, as she always gave conditions better than the market.
The volume of exchangers has increased hundreds of times since the beginning of the war, and the owners of exchangers from poor people became suddenly rich. They earned more in six months than in the previous five years. By the beginning of the war, Valeria Fedyakina already had excellent established connections with the entire shadow market and it was time to start monetizing them.
Valeria Fedyakina created a pyramid scheme, charging extra for cash and daily turnovers of 30+ million dollars. She also accumulated money through two other schemes: giving exchanger owners money for circulation and paying 20% per month.
Fedyakina Arrested After Suspicious Cash Transfer in UAE
A 28-year-old woman from Moscow, has been arrested on suspicion of defrauding a client of $150 million. Fedyakina, who worked with crypto exchangers, is alleged to have received cash from clients with the promise of transferring the funds to the UAE for an additional fee, contrary to the typical practice of charging a commission for such transactions.
In a sudden turn of events, Fedyakina disappeared with the money. Her arrest came on September 15 following a suspicious transaction where she took $150 million in cash from a friend. The friend was supposed to receive at least a 1% bonus after the exchange, but it became evident that Fedyakina had no intention of making the withdrawal.
Fedyakina is now facing charges of fraud, which carry a potential prison sentence of up to ten years. She has been placed in pre-trial detention due to her UAE residence permit, despite being six months pregnant.
The case involves multiple Russian crypto exchangers from various locations, including City, Lyublino, Gorbushka, Sadovod, and the South Gate market, who may have been defrauded of up to $150 million. These exchangers entrusted their funds to Valeria Fedyakina, a money changer from Dubai, who offered them attractive rates and high returns on their investments.
Fedyakina had constructed a pyramid scheme, enticing clients with favourable rates and lucrative interest rates for fund placements. In addition to the standard exchange services, she offered to exchange $100 in cash in Moscow and, after three days, provide +1% interest in Dubai. The daily turnover of funds involved was estimated to be over $30 million, with individuals carrying substantial sums of cash. She also collected money under the pretence of investing in an IT project.
The situation has left many victims in financial distress, with Fedyakina’s whereabouts currently unknown, including her husband’s whereabouts.
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About The Author
Damir is the team leader, product manager, and editor at Metaverse Post, covering topics such as AI/ML, AGI, LLMs, Metaverse, and Web3-related fields. His articles attract a massive audience of over a million users every month. He appears to be an expert with 10 years of experience in SEO and digital marketing. Damir has been mentioned in Mashable, Wired, Cointelegraph, The New Yorker, Inside.com, Entrepreneur, BeInCrypto, and other publications. He travels between the UAE, Turkey, Russia, and the CIS as a digital nomad. Damir earned a bachelor's degree in physics, which he believes has given him the critical thinking skills needed to be successful in the ever-changing landscape of the internet.
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Damir is the team leader, product manager, and editor at Metaverse Post, covering topics such as AI/ML, AGI, LLMs, Metaverse, and Web3-related fields. His articles attract a massive audience of over a million users every month. He appears to be an expert with 10 years of experience in SEO and digital marketing. Damir has been mentioned in Mashable, Wired, Cointelegraph, The New Yorker, Inside.com, Entrepreneur, BeInCrypto, and other publications. He travels between the UAE, Turkey, Russia, and the CIS as a digital nomad. Damir earned a bachelor's degree in physics, which he believes has given him the critical thinking skills needed to be successful in the ever-changing landscape of the internet.
