Russian ‘Crypto Queen’ Reportedly Arrested in Moscow

Police Russia
Last updated:
Author
Tim Alper
Author Categories
About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
The Russian crypto entrepreneur and “influencer” Valeria “Bitmama” Fedyakina.
Source: Bitmama888/Instagram

Police in Russia have reportedly arrested an entrepreneur and “crypto influencer” known as Bitmama, aka the “Queen of Crypto,” on fraud charges.

Per Moskvich Magazine and the Telegram-based news networks Baza and Readovka, Valeria “Bitmama” Fedyakina was detained by police on September 15 after an “acquaintance” filed a fraud complaint.

The unnamed “acquaintance” claimed Fedyakina had duped him into handing over almost $70 million.

Police reportedly believe that other individuals also invested their money with Fedyakina, but suspected that she was in fact operating a “financial pyramid.”

When the allegations came to light, the media outlets reported, Fedyakina allegedly attempted to “escape” with her investors’ funds.

The outlets described her “disappearance” as “sudden” and occurring “around a week before her arrest.”

Fedyakina reportedly told investors that they could expect 1% returns on funds they deposited with her.

She is also the CEO and Founder of a crypto-related firm known as Holdinga.

Bitmama positioned herself as a crypto influencer, and amassed almost just short of 55,000 Instagram followers, as well as 7,000 followers on X (Twitter).

Her most recent Instagram post was made two weeks ago.

firm’s website appears to be offline at the time of writing, and she has not updated her X accounts since April this year.

Another website affiliated with her trademarked Bitmama brand also appear to be offline.

The media outlets reported that Fedyakina was six months pregnant at the time of her arrest, and stated that she could face up to 10 years if convicted.

Police reportedly decided to arrest Fedyakina as they thought she posed a flight risk.

She is being held in a pre-trial detention center awaiting a court hearing.

Who Is Russian ‘Crypto Queen’ Valeria Fedyakina?

The crypto influencer holds a UAE residence permit and listed Dubai as her location on social media channels.

Fedyakina was named as one the “10 Innovative And Driven Women Entrepreneurs to Follow in 2023” in a listicle published by the International Business Times earlier this year.

She was also featured in English-language media outlets such as the Arabian Post.

Fedyakina (28) had previously spoken of crypto’s sanctions-evading potential for Russians, and reportedly worked with a range of “wealthy” clients.

Moskvich Magazine wrote that she had been “working with crypto exchanges for a long time,” and noted: “She usually receives cash from clients and withdraws funds abroad for a fee.”

caused “large-scale” damage by illegally connecting rigs directly to a local power grid.

More Articles

Blockchain News
Electricity Consumption Growth Rockets in Russia’s Bitcoin Mining Hotspots
Tim Alper
Tim Alper
2025-02-13 03:00:00
Blockchain News
1 in 4 South Koreans Own Crypto; Most Eye Short-term Gains – Survey
Tim Alper
Tim Alper
2025-02-12 23:30:00
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors