Russia | ForkLog

ForkLog 19 20.05.2024

Lidings Law Firm Begins Accepting Claims from WEX Clients

The law firm Lidings has announced the commencement of accepting claims from both Russian and international clients of the WEX exchange for asset recovery. According to the announcement, Lidings is the sole representative of the platform on this matter. Claims in Russian or English are accepted via email or through WhatsApp and Telegram, using the […]

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ForkLog 15 17.05.2024

Russian Miners Extract 54,000 BTC in 2023

In 2023, Russia secured the second position in cryptocurrency mining volumes, trailing only the United States. This was reported by Kommersant, citing data from BitRiver. According to their calculations, Russian miners extracted approximately 54,000 BTC last year (valued at $3.5 billion at the current rate). The country operated an average of up to 2.2 GW […]

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ForkLog 31 13.05.2024

Russians Account for a Quarter of Bybit’s Traffic in April

The cryptocurrency exchange Bybit continues to increase its Russian traffic, reaching 25% in April, according to journalist Colin Wu. Other platforms popular among Russians include Bitfinex with 10% of total traffic, Bitget and MEXC with 9% each, and OKX with 8%. Data: Wu Blockchain. HTX saw 7% of its visits last month coming from Kazakhstan. […]

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ForkLog 22 13.05.2024

Russia Proposes New Fines for Illicit Miners

The Expert Council under the Russian government has advocated for the implementation of remote energy consumption checks to combat illicit miners, according to Izvestia. In cases where actual power usage exceeds the amount declared in bills, it is proposed to fine violators, calculating the penalty based on industrial rates. Currently, bills for excessive electricity consumption […]

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ForkLog 29 02.05.2024

Russia and Iran Explore Digital Ruble and Rial Transactions

Facing Western sanctions, Russia and Iran are exploring the use of DFAs and central bank digital currencies (CBDCs) for mutual settlements, according to a report by Izvestia. Rahimi Mohsen, the trade attaché of the Iranian embassy in Russia, stated that Tehran and Moscow are working on innovative solutions to simplify trade between the nations and […]

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ForkLog 10 01.05.2024

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 […]

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ForkLog 19 30.04.2024

US Senators Voice Concerns Over USDT’s Role in Sanctions Evasion

On April 28, US Senators Elizabeth Warren and Roger Marshall sent a letter to the Treasury, the Department of Defense, and the White House, expressing concerns about the use of cryptocurrencies to evade sanctions. This was reported by the Wall Street Journal. The authors posed several specific questions regarding USDT transactions conducted by Russia, Iran, […]

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ForkLog 25 27.04.2024

Beribit Clients Report Difficulties with Cryptocurrency Withdrawals

Clients of the cryptocurrency exchange Beribit gathered at the Federation Tower in Moscow City, demanding the return of their digital assets, according to the Telegram channel Mash. The clients reported that the platform is holding assets worth approximately 400 million rubles (~$4.3 million). Media sources indicate that company representatives unsuccessfully attempted to flee through a […]

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ForkLog 23 25.04.2024

Five Russian Banks Pilot Bitcoin Transaction Tracking

The Central Bank of Russia, Rosfinmonitoring, and five major banks are conducting a pilot project to establish connections between users’ fiat and cryptocurrency transactions. This was reported by RBC, citing a statement from Ilya Bushmelev, Director of Project Portfolio Management at Innotech. The new service, “Know Your Crypto Client,” aims to train credit institutions to […]

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ForkLog 43 23.04.2024

WEX’s ‘Red Admin’ Ordered to Pay Additional 18 Billion Rubles

On April 23, the Savelovsky District Court of Moscow granted a claim to recover 18 billion rubles from WEX system administrator Alexey Bilyuchenko (Ivanov). This was reported by journalist Irek Murtazin in his Telegram channel. The plaintiff was the official operator of WEX, the Singaporean company World Exchange Services, represented by owner Igor Pravdin. Until […]

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ForkLog 64 17.04.2024

Police Officer Accused of Extorting WEX ‘Red Admin’ Placed on International Wanted List

Former employee of the BSTM of the Russian Ministry of Internal Affairs, part of the Department ‘K’, Georgy Satyukov, and his ex-colleague Dmitry Sokolov have been arrested in absentia and placed on an international wanted list. They are accused of receiving a bribe amounting to 4.9 billion rubles in cryptocurrencies from WEX exchange system administrator […]

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ForkLog 7 16.04.2024

Founders of ‘Greenstar Mining’ Sentenced to Prison in Irkutsk

On April 11, the Oktyabrsky District Court of Irkutsk delivered a guilty verdict to five residents of the Chelyabinsk region involved in the fictitious sale of cryptocurrency mining equipment through the company ‘Greenstar Mining’. According to the case materials, since 2021, the defendants advertised their services online, offering to supply miners with a 50% prepayment. […]

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