Crypto Queen Busted! The $22M Scam That Funded a War – See How She Pulled It Off!

A Russian influencer who once dazzled her followers with tales of cryptocurrency success has been accused of scamming investors out of more than $22 million and allegedly funneling the stolen funds to Ukrainian forces. Valeria Fedyakina, 24, often referred to as the “Queen of Crypto,” is at the center of a massive fraud case, according to recent reports.

Russian authorities revealed that Fedyakina built her online reputation by posing as a seasoned cryptocurrency expert. On social media, she projected an image of luxury and expertise, gaining the trust of her followers. At least four individuals fell victim to her scam, trusting her with millions of dollars in investments. Reports by NewsX highlighted that Fedyakina’s carefully crafted persona led people to believe in her credibility, with devastating consequences for those who bought into her scheme.

Going by the online alias “Bitmama,” Fedyakina presented herself as a financial professional with offices spread across Moscow, Dubai, Monaco, Serbia, and Turkey. Her global reach gave an added layer of authenticity to her scam, allowing her to operate with apparent legitimacy. This, however, was nothing more than a carefully built illusion. According to CryptoNews, victims were lured by her claims of high returns on cryptocurrency investments, with one particularly unfortunate individual losing a staggering $70 million.

The police investigation revealed that Fedyakina managed to pull off the scam in just two months, pocketing around $22 million from her unsuspecting investors. Her method was simple but effective: she convinced her victims to transfer their funds to crypto accounts in Dubai, promising them they would avoid banking restrictions and even earn a 1% bonus once their money was converted into digital currency. What these investors didn’t realize was that their money was never coming back.

In a surprising twist, authorities said Fedyakina did not keep the stolen money for personal use. Instead, reports allege that she transferred the funds to Ukraine’s armed forces, using the ill-gotten gains to support their resistance against Russia’s ongoing invasion. This revelation has added a political dimension to the scandal, given the tense relations between Russia and Ukraine.

Fedyakina’s downfall came in September 2023 when she was arrested at an airport while attempting to flee Russia for the UAE. Since her arrest, she has been held in pre-trial detention and is expected to face formal charges next month. If convicted, Fedyakina could be sentenced to up to 10 years in prison.

Her legal troubles have been complicated by her personal circumstances. At the time of her arrest, Fedyakina was six months pregnant. Despite her lawyers’ attempts to seek house arrest due to her pregnancy, the court denied the request. After giving birth in a special maternity hospital, she was returned to detention, with no sign of leniency in sight.

Fedyakina has denied all allegations of fraud. Through her defense, she has maintained that she supports Russia’s military efforts, directly contradicting the claims that she sent money to Ukraine. Her legal team further argued that she was the victim of a conspiracy, alleging that she used her own money to cover losses for clients who, in her version of events, refused to pay her back.

The case has captivated both the public and media, with Fedyakina’s dual roles as a glamorous influencer and a defendant in a high-profile fraud case making headlines. As the legal proceedings move forward, many will be watching closely to see how this story, filled with betrayal, politics, and deception, unfolds.

The outcome of Fedyakina’s trial may not only decide her fate but also provide a deeper look into the dark side of online influencers who, beneath the glittering surface, exploit their followers for financial gain.