Wallets linked to Bitmama, accused of cryptocurrency fraud, identified.

The BitOK team has identified key addresses linked to the activities of Valeriya Fedyakina, accused of cryptocurrency fraud, and her associates. ForkLog was informed of this by company representatives.

According to their information, one of Fedyakina’s addresses has stopped conducting transactions since September 17. Most counterparties to the transactions on it are deposit addresses of exchanges, as well as addresses belonging to the Garantex exchange. 

From the second wallet, between September 13 and 17, all funds amounting to $12.2 million were withdrawn to two external addresses (1, 2).

The aggregate value moved through these two addresses totaled $139 million, according to experts.

Subsequently the coins continued to split. As a result, part of them, in small sums, ended up on deposit addresses of cryptocurrency exchanges, including Binance, Bybit and HTX (formerly Huobi).

The remaining, after passing through a chain of transactions with the use of cryptocurrency mixers, ended up at an address that belongs to an unidentified service.

According to analysts, about 20% of the total volume of assets that flowed into Fedyakina’s wallets is linked to the Russian crypto exchange Garantex.

Earlier the Telegram channel Baza reported that Bitmama was arrested in Moscow for deceiving a client of 6.7 billion rubles.

Fedyakina cooperated with exchanges: she received cash from them and promised to transfer the money to another country with an additional payment, even though such operations typically carry a commission. She explained this by ties with prominent businessmen and state-owned corporations.

However, in September Bitmama disappeared. A little earlier, clients had faced delays in payouts.

According to Baza, on September 15 Fedyakina was detained in Moscow over a suspicious deal. She received 6.7 billion rubles in cash from an acquaintance and promised to exchange them for cryptocurrency with a 1% premium. Later the client realized that the money would not be seen and reported to the police.

Valeriya Fedyakina, who is six months pregnant, faces charges of large-scale fraud. She faces up to ten years in prison. Because she holds a UAE residence permit, the court ordered her remanded in custody.

According to data from the Indefibank CEO Sergei Mendeleev, Fedyakina is in SIZO-6 Pechatniki.

The first to publish that Bitmama “duped the market of shadow exchangers for $150 million” was blogger Mikhail Zhukhovitsky.

In a ForkLog comment, he said that among the victims are “hundreds of small” firms, but there is also a major player with cheques totaling 20 million rubles.

In July, Russian media reported plans by the Ministry of Finance ban the circulation of cryptocurrencies with the exception of stablecoins and the sale of coins to miners.

They say this concerns preventing the organization of services that help carry out civil-law transactions or transfers of digital currencies from one holder to another through Russian exchanges and crypto ATMs.