Russia | ForkLog

ForkLog 15 30.07.2024

Rise in Pyramid Schemes Disguised as Clicker Games in Russia

In the first half of 2024, 59% of the 1723 identified financial pyramids attracted client funds in cryptocurrencies. Fraudsters often disguise these schemes as clicker games and meme coins, as reported by the Central Bank of Russia. More than 14% of illegal projects operated as economic games with a pseudo-investment component. Perpetrators exploit sanctions-related themes, […]

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ForkLog 11 29.07.2024

TRM Labs Highlights Dominance of Russian-Speaking Crypto Hackers

Russian-speaking hackers from the CIS countries have become a “ubiquitous force” in international cybercrime related to digital assets, according to a report by TRM Labs. The study indicates that Russian-speaking perpetrators are responsible for at least 69% of ransomware revenues, amounting to over $500 million in 2023. Share of Russian-speaking hackers. Data: TRM Labs. The […]

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ForkLog 26 25.07.2024

Russian Banks’ New Anti-Fraud Measures May Hinder Cryptocurrency Exchange

From July 25, Russian banks have implemented a new mechanism for the return of funds stolen by fraudsters. This could significantly complicate P2P cryptocurrency exchange operations, senior partner of the Emet law firm, Eduard Davydov, told ForkLog. In the event of theft, a client must contact the bank, which, after reviewing the claim, is obliged […]

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ForkLog 10 25.07.2024

Russia Reverses Ban on Cryptocurrency Circulation

On July 25, the Russian State Duma’s Financial Market Committee introduced amendments to the second reading of the mining bill, removing the ban on the organization of cryptocurrency circulation. This was announced by Deputy Anton Gorelkin. This provision had previously excluded the possibility of creating exchanges and exchangers outside the scope of experimental legal regimes […]

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ForkLog 19 25.07.2024

Russia Turns to Cryptocurrencies for Cross-Border Payment Solutions

Russian companies are increasingly encountering difficulties in international transactions due to the threat of secondary sanctions against their counterparts. Against this backdrop, cryptocurrencies and payments through intermediaries are gaining popularity, writes Bloomberg. The most significant challenge for Russia involves dealings with China, whose trade with Russia reached a record $240 billion in 2023. In many […]

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ForkLog 22 24.07.2024

Russian State Duma Advances Cryptocurrency Mining and Experimental Regime Bills

On July 24, the Russian State Duma passed a bill in the first reading concerning the regulation of cryptocurrency mining. This was announced by Deputy Anton Gorelkin on his Telegram channel. The document establishes the legal status of industry participants. Among other provisions, it allows for the prohibition of mining in certain regions. According to […]

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ForkLog 5 23.07.2024

Russian Miners Mandated to Comply with AML Regulations

On July 23, the Russian State Duma passed a law requiring miners to adhere to anti-money laundering (AML) regulations, as reported by RBC. This is a separate document, not linked to the mining bill. The initial version applied only to notaries. However, amendments for the second reading included miners, mining pool participants, and their administrators. […]

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ForkLog 6 23.07.2024

Russian State Duma Reviews Cryptocurrency Mining Legislation

On July 23, the Russian State Duma will conduct the first reading of a bill aimed at regulating cryptocurrency mining. This was reported by Vedomosti. Lawmakers have intensified efforts to legalize the sector following demands from President Vladimir Putin. He criticized the uncontrolled energy consumption by miners, which, according to him, has already led to […]

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ForkLog 94 22.07.2024

Gurinovich Addresses Connection with Hamster Kombat

The authors of the Telegram channel BRIEF claimed that the owner of the clicker game Hamster Kombat is Russian businessman Eduard Gurinovich. He described himself as a partner. Media outlets discovered that on May 30, Gurinovich filed an application with Rospatent for the phrase “Hamster Kombat.” This occurred two weeks before an indirect revelation by […]

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ForkLog 9 19.07.2024

Police Seize 500 Bitcoin Miners Near Irkutsk

Law enforcement in the Irkutsk region uncovered illegal cryptocurrency mining operations and confiscated the equipment. This was reported by the local department of the Investigative Committee of the Russian Federation. According to the investigation, residents of TSN “Molodezhnoye” and DNT “Uyutnoye” connected 500 ASIC miners to the power grids supplying the district’s population. The miners […]

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ForkLog 29 17.07.2024

Putin Urges Swift Action on Cryptocurrency Regulation in Russia

During an economic meeting, Russian President Vladimir Putin addressed issues related to the implementation and use of digital assets in the country. This was reported by the Kremlin’s press service. Putin described the sector as a “very dynamic and promising area of the modern economy.” “For us in Russia, it is important not to miss […]

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ForkLog 16 17.07.2024

Survey Reveals Limited Popularity of Hamster Kombat in Russia

More than half of Russians (57%) are unaware of the existence of the Telegram-based clicker game Hamster Kombat. This is according to the results of a telephone survey conducted by the VTSIOM among 1600 adult citizens. According to the collected data, 42% of respondents have heard of the “hamster,” with 14% understanding the essence of […]

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