Two-Thirds of Russian Pyramid Scams Now Run on Crypto — Over 4,600 Criminal Wallets Exposed

Key Takeaways Pyramid schemes in Russia increasingly rely on crypto, with 80% of scams operating online and two-thirds using crypto wallets. In 2025, over 7,000 fraudulent schemes were detected, including fake crypto investment platforms that tricked citizens into sending funds. The Russian central bank issued warnings, blocked thousands of scam-related sites, and is tightening crypto regulations to protect investors. Russia’s long-running battle with pyramid schemes has entered a new phase — and ...