Valeria Fedyakina, a prominent Russian influencer known as the “Queen of Crypto,” is currently facing serious legal troubles.
Accused of defrauding investors of over $22 million through a pyramid scheme, she has been under investigation for over a year.
Fedyakina, who was just 24 at the time of her arrest, allegedly used her influence to convince victims to invest in lucrative cryptocurrency ventures. She promised high returns and leveraged the growing popularity of cryptocurrencies in Russia as a means to bypass economic sanctions. However, the promised returns were never realized, and the funds were instead diverted to support Ukrainian military efforts.
Despite the severity of the accusations, Fedyakina’s defense team maintains her innocence, claiming she was a victim of a larger conspiracy within the crypto industry.
They argue that she never intended to deceive anyone. However, evidence suggests otherwise, with victims reporting significant financial losses and the discovery of funds being channeled to support a foreign military.
Fedyakina’s attempts to flee Russia to the UAE further complicated her legal situation. After giving birth in a special maternity facility, she was returned to detention and faces potential imprisonment for up to ten years if convicted.