Finiko Fugitives Suspected Of Moving 750 BTC From Crypto Pyramid’s Wallet – Bitcoin News

A large amount of cryptocurrency has been reported to have been withdrawn from wallets formerly controlled by the Finiko Ponzi scheme in Russia. Unknown operators of the wallet transferred $48 million worth of funds this month. The digital currency is divided into smaller amounts and sent to different addresses.

750 BTC removed from crypto pyramid Finiko wallet

A total of 750 BTC, worth about $48 million at press time, were withdrawn from one of the wallets used by the Ponzi Finiko crypto program, Forklog reported. Youtube blogger Andrey Alistarov broke the news of the transfer, revealing that it was done in three separate transactions of 250 BTC each since the beginning of November.

Initially, funds are transferred to a single address and then sent to another wallet at crypto exchange Huobi, data cited from blockchain analytics platform Crystal Blockchain shows. The crypto funds are then divided into smaller amounts and transferred to other addresses.

Alistarov alleges that these transactions were ordered by three of Finiko’s senior members, who are still in the country. Zygmunt Zygmuntovich, Marat Sabirov and Edward Sabirov, close associates of pyramid founder Kirill Doronin, managed to leave the Russian Federation when crypto investment schemes collapsed this summer, avoiding detention. In September, a high court in Tatarstan confirmed their international arrest warrant.

The Russian vlogger commented that the Finiko co-founders had intentionally transferred funds in many transactions. “Why they have not been locked up until now is not clear, because they have been marked as a scam for a long time. One thing is clear that money is being converted to cash at the moment,” added Andrey Alistarov.

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Authorities in Russia are currently working to verify all the facts in the case with Finiko, a ghostly entity that has attracted hundreds of thousands of investors by promoting itself as a “profit-making system.” automatic profits” and promises extremely high profits. Due to the large scale of the fraud, the federal Department of the Interior has launched an investigation.

In early October, Kirill Doronin, an Instagram influencer involved in other Ponzi schemes in the past, two of Finiko’s vice presidents, Ilgiz Shakirov and Dina Gabdullina, as well as Lilia Nurieva, who rose to a position known as “The 10th Star,” was moved to the capital Moscow.

Finiko is said to be Russia’s biggest financial pyramid scheme since the infamous MMM in the 1990s. While officially registered losses for the scam have reached 1 billion rubles (nearly $14 million). dollars), independent estimates suggest the total is likely to exceed $4 billion.

According to a report by blockchain forensics firm Chainalysis, the Ponzi scheme received more than $1.5 billion in bitcoin in 800,000 separate deposits from investors between December 2019 and August 2021. Some of its victims are citizens of Russia, Ukraine and other former Soviet Union countries, some EU Member States and the United States of America.

Do you think fugitive Finiko members were behind the transfer of 750 BTC from a crypto pyramid wallet? Let us know in the comments section below.

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