The owner of the Tsargrad group of companies, Russian entrepreneur Konstantin Malofeyev, has invested cryptocurrency in projects in African countries. This is reported by Open Media, citing sources close to the businessman’s circle.
The amount of the investment and the specific projects remain unknown to the interviewees. But according to one of them, in exchange for the investments Malofeyev received, among other things, a batch of precious stones.
The source said that with the proceeds from the African projects the businessman intends to fund the Tsargrad movement, which plans to participate in the State Duma elections in 2021.
In autumn 2019, Konstantin Malofeyev announced the creation of the International Agency for Sovereign Development (IASD) to finance African countries. As part of the cooperation, Malofeyev planned to raise $2.5 billion to build a pipeline in Niger, as well as to develop transport infrastructure and railways in Guinea and Congo.
The IASD registration in the register of Russian legal entities took place in May 2020. It was through this agency that Malofeyev invested cryptocurrency, according to a familiar of the entrepreneur.
In November 2018, BBC journalists established Konstantin Malofeyev’s involvement in the sale of the Wex cryptocurrency exchange by former Donetsk People’s Republic fighter Dmitry ‘Moryachok’ Havchenko, and in the subsequent withdrawals from the platform.
BBC: Konstantin Malofeyev, owner of Tsargrad, implicated in the theft of bitcoins from the Wex cryptocurrency exchange
Starting in November 2019, a wave of false reports of bomb threats to ships and other public buildings swept across Russia. An unknown author demanded that Konstantin Malofeyev pay him 120 BTC, stolen from the Wex cryptocurrency exchange.
Later, some Wex investors suggested that the “mining” of ships may have been orchestrated by Malofeyev’s team. Their stated aim was to brand all Wex clients as terrorists and bar them from recovering funds through the courts.
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