A woman in Russia was sentenced to 7 years in prison for defrauding 23 million dollars in Bitcoin.

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On June 27, according to the Daily Telegraph, a Russian woman claiming to be a crypto assets expert was sentenced to 7 years in prison by a Moscow court for orchestrating and executing a Ponzi Scheme within 60 days in 2023, defrauding investors of Bitcoin worth $23 million (2.2 billion rubles). The woman, named Valeria Fedyakina, hails from Simferopol. She impersonated a legitimate crypto assets trader with offices worldwide under the name "Bitmama," promising clients that she could transfer funds overseas using encryption to bypass Western sanctions.

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