Russia ‘Crypto Queen’ Bitmama Charged with Stealing $21M From Investors

Russian influencer Valeria Fedyakina, known as Bitmama, has been accused of embezzling large sums of money, including Bitcoin and UAE dirhams, amounting to at least 2.2 billion rubles ($21.3 million).

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According to the Russian state-run news agency TASS, Fedyakina, dubbed the “Crypto Queen,’ allegedly enticed clients with opportunities to invest in cryptocurrency and promised substantial returns. 

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However, prosecutors argue that Fedyakina failed to fulfill these promises, instead vanishing with her clients’ funds shortly after receiving them. This led to accusations of large-scale fraud and embezzlement against the Russian influencer.

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MICHAELA

Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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