Russia | ForkLog

ForkLog 26 24.05.2024

Russian Central Bank Assesses Cryptocurrency Transactions at 4.5 Trillion Rubles

In the fourth quarter of 2023 and the first quarter of 2024, the cryptocurrency turnover attributed to Russians, involving four crypto assets (Bitcoin, Ethereum, USDT, and USDC), reached 4.5 trillion rubles ($50.3 billion), according to a recent report by the Bank of Russia. This figure represents a 15.6% increase compared to the second and third […]

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ForkLog 42 23.05.2024

Case of 2718 BTC Bribery Reaches Moscow Region Court

The Balashikha court has received a criminal case against former Moscow investigator Marat Tambiev and his subordinate Kristina Lyakhovenko, accused of accepting a substantial bribe in bitcoins from members of the hacker group Infraud Organization, as reported by Kommersant. The jurisdiction was changed due to concerns about Tambiev’s potential connections within the Moscow judiciary. Previously, […]

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ForkLog 19 23.05.2024

Russian Supreme Court Mandates Verification of Bitcoin Wallet Ownership in Legal Cases

The Supreme Court of Russia has ordered a retrial in a case concerning illicit enrichment through cryptocurrency, citing an unfounded decision by the appellate court. This was reported by RAPSI. According to the case details, the plaintiff lent the defendant 313,008 USDT with interest, but the defendant failed to repay. The plaintiff alleged unjust enrichment […]

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ForkLog 73 21.05.2024

Key Figure in ‘Finiko’ Pyramid Sentenced to 4.5 Years in Prison

The Vakhitovsky District Court of Kazan has found Lilia Nuriyeva, a prominent participant in the financial pyramid scheme ‘Finiko’, guilty of fraud and involvement in a criminal organization, sentencing her to 4.5 years in prison. This was reported by local media. According to the case materials, the 42-year-old Nuriyeva defrauded 161 individuals between July 2019 […]

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ForkLog 11 21.05.2024

Initial Fraud Case Against Beribit Exchange Dismissed

Investigators in Khabarovsk initiated a criminal case based on a complaint from a client of the cryptocurrency exchange Beribit. This was highlighted by the Telegram channel «Менделеевщина». According to the document, the victim reported the theft of funds totaling 1.1 million rubles (10,910 USDT). The case, citing large-scale fraud, was filed against an “unidentified person.” […]

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ForkLog 23 20.05.2024

Lidings Law Firm Begins Accepting Claims from WEX Clients

The law firm Lidings has announced the commencement of accepting claims from both Russian and international clients of the WEX exchange for asset recovery. According to the announcement, Lidings is the sole representative of the platform on this matter. Claims in Russian or English are accepted via email or through WhatsApp and Telegram, using the […]

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ForkLog 17 17.05.2024

Russian Miners Extract 54,000 BTC in 2023

In 2023, Russia secured the second position in cryptocurrency mining volumes, trailing only the United States. This was reported by Kommersant, citing data from BitRiver. According to their calculations, Russian miners extracted approximately 54,000 BTC last year (valued at $3.5 billion at the current rate). The country operated an average of up to 2.2 GW […]

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ForkLog 37 13.05.2024

Russians Account for a Quarter of Bybit’s Traffic in April

The cryptocurrency exchange Bybit continues to increase its Russian traffic, reaching 25% in April, according to journalist Colin Wu. Other platforms popular among Russians include Bitfinex with 10% of total traffic, Bitget and MEXC with 9% each, and OKX with 8%. Data: Wu Blockchain. HTX saw 7% of its visits last month coming from Kazakhstan. […]

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ForkLog 23 13.05.2024

Russia Proposes New Fines for Illicit Miners

The Expert Council under the Russian government has advocated for the implementation of remote energy consumption checks to combat illicit miners, according to Izvestia. In cases where actual power usage exceeds the amount declared in bills, it is proposed to fine violators, calculating the penalty based on industrial rates. Currently, bills for excessive electricity consumption […]

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ForkLog 32 02.05.2024

Russia and Iran Explore Digital Ruble and Rial Transactions

Facing Western sanctions, Russia and Iran are exploring the use of DFAs and central bank digital currencies (CBDCs) for mutual settlements, according to a report by Izvestia. Rahimi Mohsen, the trade attaché of the Iranian embassy in Russia, stated that Tehran and Moscow are working on innovative solutions to simplify trade between the nations and […]

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ForkLog 14 01.05.2024

Beribit Exchange Accused of Fraud by Clients

At least 20 clients of the cryptocurrency exchange Beribit have filed police reports alleging fraud by the platform, according to the Telegram channel “Baza”. One affected individual claims to have deposited 121.7 million rubles into the exchange, with all his savings now frozen. The total amount of funds blocked on Beribit is estimated to be […]

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ForkLog 23 30.04.2024

US Senators Voice Concerns Over USDT’s Role in Sanctions Evasion

On April 28, US Senators Elizabeth Warren and Roger Marshall sent a letter to the Treasury, the Department of Defense, and the White House, expressing concerns about the use of cryptocurrencies to evade sanctions. This was reported by the Wall Street Journal. The authors posed several specific questions regarding USDT transactions conducted by Russia, Iran, […]

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