One of the co-founders of Russia's largest crypto Ponzi scheme Finiko has been deported back to Russia after being detained in the UAE. The Russian Ministry of Internal Affairs confirmed that the suspect is accused of establishing and leading a criminal organization, committing large-scale fraud, and has been handed over at Dubai Airport to the Russian Interpol authorities. Finiko operated between 2018 and 2021 using high returns as bait, with the crypto pyramid absorbing funds but never making real investments, resulting in losses of over 1 billion rubles for more than 7,700 victims. The suspect fled abroad after the scheme collapsed in 2021 and was arrested in the UAE in 2022. (cryptopolitan)
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One of the co-founders of Russia's largest crypto Ponzi scheme Finiko has been deported back to Russia after being detained in the UAE. The Russian Ministry of Internal Affairs confirmed that the suspect is accused of establishing and leading a criminal organization, committing large-scale fraud, and has been handed over at Dubai Airport to the Russian Interpol authorities. Finiko operated between 2018 and 2021 using high returns as bait, with the crypto pyramid absorbing funds but never making real investments, resulting in losses of over 1 billion rubles for more than 7,700 victims. The suspect fled abroad after the scheme collapsed in 2021 and was arrested in the UAE in 2022. (cryptopolitan)