<ul data-eligibleForWebStory="true"><li>Russian woman, Valeria Fedyakina, also known as 'Bitmama,' has been sentenced to seven years in prison in Russia for organizing a $23 million Bitcoin pyramid scheme.</li><li>Fedyakina defrauded investors by posing as a crypto expert and promising to help them bypass Western sanctions by converting funds into crypto offshore, mainly in Dubai.</li><li>She was arrested while attempting to flee to the UAE and will spend nearly ten years behind bars, as she was sentenced to seven years in a penal colony and ordered to repay the full $23 million to her victims.</li><li>This incident sheds light on the trend of using crypto to avoid sanctions and fund illicit activities in Russia, with ongoing cases indicating the persistence of crypto-related crimes.</li></ul>

Russian Citizen “Bitmama” Russian Woman Gets 7 Years $23 Million Crypto Scam

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