I hope you are all well and having excellent day, welcome to CryptoGod-1’s blog on all things crypto. News outlets in Russia have reported the arrested of an influencer known as Bitmama, who tried to steal her investors funds.
Bitmama - 'Queen of Crypto'
It has been reported by police in Russia that the entrepreneur and “crypto influencer” known as Bitmama, aka the “Queen of Crypto, has been arrested. Valeria “Bitmama” Fedyakina was detained by police on the 15th of September 2023 after an “acquaintance” filed a fraud complaint. It is claimed by the unnamed “acquaintance” of Fedyakina that he had been duped into handing over almost $70 million.
According to the police other individuals may have invested their money with Fedyakina, and she is suspected of operating a “financial pyramid.” She apparently attempted to escape with the funds of her investors in a sudden disappearance about one week before she was arrested. It is believed she reported to her investors that they should expect around 1% return on their deposit. She is the CEO and Founder of a crypto-related firm known as Holdinga.
Fedyakina had positioned herself as a crypto influencer and had just short of 55,000 followers on Instagram, along with 7,000 followers on X (Twitter). She was also due to speak in Moscow at an event on the 16th of September. Her firms website is currently offline, and her X account was last updated in April 2023. Another website which is associated with her brand Bitmama is also offline.
Fedyakina was six months pregnant at the time of her arrest according to the reports, and she will face up to 10 years behind bars if convicted. Police have also reportedly decided to arrest Fedyakina as they thought she posed a flight risk. Currently she is being held in a pre-trial detention center awaiting a court hearing.
It is known that the crypto influencer holds a UAE residence permit and has Dubai listed as her location on social media. Fedyakina was named as one the “10 Innovative And Driven Women Entrepreneurs to Follow in 2023” in a listicle published by the International Business Times recently this year.
She has previously spoken of the sanction-evading potential for Russians with crypto, and how they can work with a variety of wealthy clients. Moskvich Magazine noted that she had been “working with crypto exchanges for a long time” and that "she usually receives cash from clients and withdraws funds abroad for a fee.”
Fedyakina had previously claimed of her “extensive connections” with “businesses and state-run corporations” in the past, and Moskvich Magazine also noted how her “daily turnover” was in the “tens of millions of dollars.”
Have a great day.
CryptoGod-1.
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