Bank of Russia blacklists 2,600 crypto wallets tied to fraud

The regulator identified these wallets as belonging to a web of companies, individual entrepreneurs, and shadowy projects operating under the guise of legitimate financial services. By incorporating these addresses into a centralized database, the central bank aims to tighten digital compliance and streamline risk assessments for financial institutions. Data shows that cryptocurrency remains the lifeblood of these operations, with over 74% of identified pyramid schemes relying on digital assets to solicit funds from the public.

Beyond traditional pyramid schemes, fraud has diversified into niche digital traps. Cybersecurity firm F6 recently uncovered a wave of fake ticket websites targeting Russian fans of Kanye West. These sites masqueraded as official tour portals, demanding payments in cryptocurrency or untraceable phone transfers for non-existent seats. While the total number of identified illegal financial entities fell by 31% compared to the previous year, the shift toward crypto-denominated pseudo-investments and illegal lending remains a primary concern for authorities. As Russia prepares for a formal, regulated crypto market rollout this September, the central bank continues to coordinate with the Federal Antimonopoly Service to systematically dismantle these online resources.