Russia | ForkLog

ForkLog 27 27.04.2024

Beribit Clients Report Difficulties with Cryptocurrency Withdrawals

Clients of the cryptocurrency exchange Beribit gathered at the Federation Tower in Moscow City, demanding the return of their digital assets, according to the Telegram channel Mash. The clients reported that the platform is holding assets worth approximately 400 million rubles (~$4.3 million). Media sources indicate that company representatives unsuccessfully attempted to flee through a […]

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ForkLog 26 25.04.2024

Five Russian Banks Pilot Bitcoin Transaction Tracking

The Central Bank of Russia, Rosfinmonitoring, and five major banks are conducting a pilot project to establish connections between users’ fiat and cryptocurrency transactions. This was reported by RBC, citing a statement from Ilya Bushmelev, Director of Project Portfolio Management at Innotech. The new service, “Know Your Crypto Client,” aims to train credit institutions to […]

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ForkLog 54 23.04.2024

WEX’s ‘Red Admin’ Ordered to Pay Additional 18 Billion Rubles

On April 23, the Savelovsky District Court of Moscow granted a claim to recover 18 billion rubles from WEX system administrator Alexey Bilyuchenko (Ivanov). This was reported by journalist Irek Murtazin in his Telegram channel. The plaintiff was the official operator of WEX, the Singaporean company World Exchange Services, represented by owner Igor Pravdin. Until […]

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ForkLog 77 17.04.2024

Police Officer Accused of Extorting WEX ‘Red Admin’ Placed on International Wanted List

Former employee of the BSTM of the Russian Ministry of Internal Affairs, part of the Department ‘K’, Georgy Satyukov, and his ex-colleague Dmitry Sokolov have been arrested in absentia and placed on an international wanted list. They are accused of receiving a bribe amounting to 4.9 billion rubles in cryptocurrencies from WEX exchange system administrator […]

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ForkLog 8 16.04.2024

Founders of ‘Greenstar Mining’ Sentenced to Prison in Irkutsk

On April 11, the Oktyabrsky District Court of Irkutsk delivered a guilty verdict to five residents of the Chelyabinsk region involved in the fictitious sale of cryptocurrency mining equipment through the company ‘Greenstar Mining’. According to the case materials, since 2021, the defendants advertised their services online, offering to supply miners with a 50% prepayment. […]

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ForkLog 11 15.04.2024

Police Officer in Karachay-Cherkessia Accused of Cryptocurrency Extortion

The Investigative Committee of Karachay-Cherkessia is probing an incident involving the extortion of cryptocurrency by the head of the local department for drug trafficking control. This was reported on the official Telegram channel of the agency. According to case materials, in October 2021, the accused received operational information about the activities of three local residents […]

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ForkLog 21 12.04.2024

Russia to Establish Bitcoin Miners Registry

A key aspect of the legislative regulation of mining will be the introduction of a cryptocurrency miners registry. This was announced by Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology, and Communications, on his Telegram channel. The registry will be maintained by an authorized government body, with the Ministry […]

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ForkLog 21 10.04.2024

Illegal Cryptocurrency Mining Farms Shut Down in Novosibirsk

Specialists from “Rosseti Novosibirsk,” in collaboration with the police, discovered four cryptocurrency mining farms illegally connected to the power grid. The premises housing the ASIC miners were scattered across the city — near sewage treatment facilities, in a forested area on the outskirts of the Leninsky district, near the city dump on the left bank, […]

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ForkLog 31 30.03.2024

Russian Central Bank Estimates 2023 Cryptocurrency Turnover

By the end of 2023, the cryptocurrency turnover potentially attributable to Russians could have reached nearly 5 trillion rubles ($54 billion). This is stated in the annual report of the Bank of Russia, according to TASS. “An analysis of the crypto asset market indicates a potentially high level of Russian involvement in the crypto asset […]

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ForkLog 56 29.03.2024

Raids Conducted at Moscow Offices of Bitcoin Exchanges Beribit and ABCEX

On March 29th, law enforcement officers raided the office of the cryptocurrency exchange Beribit, located on the 52nd floor of the Federation Tower in “Moscow-City,” according to the Telegram channel Shot. To gain entry, the authorities had to break down the door. At the time of writing, the Beribit website is not operational. Source: Telegram […]

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ForkLog 61 29.03.2024

How Will FATF’s Methodology for Crypto Companies Change?

FATF has released a draft version of its new Mutual Evaluation Methodology. Experts will focus on the main risks and operational context of VASPs in each specific country. FATF recommendations are not legally binding, but non-compliance can harm the reputation of financial institutions in a country. FATF has not yet announced plans to include Russia […]

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ForkLog 18 28.03.2024

US and UK Investigate Garantex Over $20 Billion USDT Transfers

Authorities in the US and UK are investigating USDT transfers amounting to $20 billion through the Russian exchange Garantex. This was reported by Bloomberg, citing informed sources. According to these sources, the investigation is part of efforts to combat sanctions evasion. All stablecoin transactions occurred after April 2022, when Garantex was added to the US […]

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