Russian social media influencer Valeria Fedyakina, also known as "Bitmama," is facing multiple fraud charges and scrutiny from Russian authorities. They claim she caused over $23 million in damages through illegal cryptocurrency activities. Fedyakina and her legal team maintain her innocence, calling the charges unfounded. The case has gained attention due to her substantial following and alleged use of cryptocurrencies for international transfers, highlighting the complexities and risks of unregulated digital finance. The Russian Investigative Committee accuses her of engaging in large-scale fraud through an unlicensed crypto exchange service, enabling clients to transfer funds between Moscow and Dubai. Fedyakina allegedly used Bitcoin for cross-border payments and promoted a crypto-backed investment program on social media platforms, guaranteeing high returns. Her defense argues that she is not a flight risk, highlighting her expired UAE residence permit and no prior criminal record. Fedyakina remains in pre-trial detention with her newborn daughter, with the defense calling for her release pending trial. A former friend has emerged as a key witness, claiming they were also misled by Fedyakina's investment schemes. Media reports suggest Fedyakina may have used her influence to convince clients to invest in questionable projects. The case highlights the risks of unregulated digital finance and the legal system's ability to tackle crypto-related fraud. The trial is pending, and Fedyakina could face significant legal consequences if found guilty.



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