Beribit Exchange Accused of Fraud by Clients

At least 20 clients of the cryptocurrency exchange Beribit have filed police reports alleging fraud by the platform, according to the Telegram channel “Baza”.

One affected individual claims to have deposited 121.7 million rubles into the exchange, with all his savings now frozen.

The total amount of funds blocked on Beribit is estimated to be around 400 million rubles (~$4.3 million).

Previously, representatives of the platform confirmed a reimbursement of 24.9 million rubles (approximately $263,000).

Back in March, raids were conducted at Beribit’s Moscow offices.

In April, the exchange reported “technical issues with cryptocurrency withdrawals,” later attributed to a change in management and “discrepancies in reporting” discovered during the transfer of management documentation.

After a crowd of angry clients gathered at the company’s office, Beribit promised to “fully settle with everyone.”