Russian crypto influencer ‘Bitmama’ Fedyakina accused of $23M investor fraud scheme

Russian social media influencer Valeria “Bitmama” Fedyakina has been accused of scamming investors out of $23 million (2.2 billion rubles) that she allegedly sent to Ukrainian troops amid an ongoing war.

Russian authorities say the 24-year-old, dubbed the “Queen of Crypto,” operated an unlicensed crypto exchange service, reportedly enabling clients to transfer funds between Moscow and Dubai.

She is accused of promising high returns through a cryptocurrency-backed investment program, which she aggressively promoted on social media platforms like Instagram. Fedyakina allegedly portrayed herself as a cryptocurrency expert.

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Valeria Fedyakina (Bitmama), who is being held in a pre-trial detention center and accused of stealing 6.7 billion rubles, said that “she was heavily framed and drowned” – she is just “a pawn in the hands of more experienced players”