Russia’s ‘Crypto Queen’ Caught with $70 Million in Suitcases

A crypto scandal shakes the digital currency world. Russia’s “Crypto Queen” Valeria Fedyakina, known as “bitmama,” is under investigation for major cryptocurrency fraud. She allegedly hid millions in cash-filled suitcases and ran fake investment schemes.

Also Read: Ethereum (ETH) Predicted To Hit A New Peak Of $6,000

Inside the Crypto Scandal: How Russia’s ‘Crypto Queen’ Valeria Fedyakina Hid Millions in Suitcases

Bitmama’s Rise and Fall

Fedyakina gained fame on social media as a crypto millionaire. She showed off a rich lifestyle, claiming it came from crypto success.

The Scheme Exposed

Prosecutors have finished their initial probe into Fedyakina. They found evidence of widespread fraud. TV channel Vesti showed videos of Fedyakina opening suitcases full of euros.

A man who used Fedyakina’s services said:

“(She told me:) ‘I have people who work in armored cars. They eat, and they take cash from you. They bring it to my office. You hand over the money here, and you receive it in Dubai.’”

Massive Fraud Claims

The scale of Fedyakina’s alleged crimes is huge. One victim claims he gave her 6.7 billion rubles (about $70 million) in cash. A reporter said, ““You could fit a million dollars into a suitcase like this.”

Also Read: Here’s Why Bitcoin (BTC) Could Hit $100K in Q4

Fake Investment Plans

Fedyakina allegedly tricked investors with false schemes. These included hotel projects in Dubai and oil ventures. The same man told Vesti about an oil investment offer:

“She told me: ‘Come on. Let’s buy oil ourselves. Let’s export it ourselves. And then let’s sell it by ourselves.’ “She asked me to make an initial investment of around $8 million.”

Legal Troubles

Fedyakina has been in jail for over a year during the investigation. She gave birth in custody and is now in a special cell with childcare.

Ivan Mironov, a victim’s lawyer, explained: