Man Linked To Cryptocurrency Fraud Nabbed In Yakutsk, Russia

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • In Yakutsk, a fraudster urging to invest in cryptocurrency was detained by Russian police.
  • Nikolai belonged to the infamous pyramid MaxiRise which was dissolved in 2018. Their notorious activities were at its peak during the cryptocurrency hype in 2017.

In Yakutsk, a 27-year-old Nikolai Dyakanov has been detained for cryptocurrency fraud. He was trying to dupe people by asking them to invest in high-yield digital assets.

Nikolai belonged to the famous pyramid MaxiRise which was dissolved in 2018. Their notorious activities were at its peak during the cryptocurrency hype in 2017. At that time, many people were looking to invest in digital currencies such as Bitcoin. Nikolai and his accomplices asked people to invest in the digital currencies, promising fantastic returns. They managed to dupe over 3000 people through their activities.

NewsYkt mentions that Nikolai’s detention isn’t directly linked to his activities at the MaxiRise community. However, law enforcement agencies have asked people living in Yakutsk to get in touch if they have suffered from the actions of MaxiRise financial Pyramid.

MaxiRise… the bubble

The Russian Ministry of Internal Affairs has urged the citizens to beware of such fraudsters. It has stated that people should refrain from investing their hard-earned money in dubious projects such as this. These kinds of investments are not a good idea as more often than people end up losing their money.

Russian authorities have also warned people about Roy Club organization, who are advertising their token over the web. Roy Club has made farce claims that people investing in PRIZM, a digital currency, have an opportunity to gain up to 30 percent a month.

The Police have stated that a lack of legislation for cryptocurrency makes it harder to protect people who have lost money by investing in fake coins. Over the years, cases related to cryptocurrency frauds have gone rampant in Russia.

Recently, a 53-year-old woman from Tatarstan fell victim to such an activity. She wanted to earn quick money, and fraudsters asked her to invest in cryptocurrency. This lady handed over 435,000 roubles, nearly $7000, to these fraudsters. In the end, they bailed out on her.

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