Moscow has issued a warning about the increasing use of cryptocurrency by pyramid scheme operators, noting that two-thirds of these fraudsters are now leveraging digital currencies for their schemes. In 2025, Russians sent funds to over 4,600 crypto wallets controlled by these criminals, as the central bank identified 7,087 financial pyramids and other fraudulent schemes, with 80% of them operating online and relying on crypto to attract investment. This surge in crypto adoption coincides with a rise in crypto-related crimes, prompting the central bank to enhance its efforts to block websites and social media accounts associated with such scams.
Central Bank of Russia warns pyramid schemes increasingly use crypto
