Looking at the situation in Russia, crypto-related scams are seriously becoming more severe. According to the latest report from the central bank, about 4,600 crypto wallets have been confirmed where citizens sent funds to scammers just in 2025.

In terms of numbers, Russian authorities identified 7,087 scam schemes. About 80% of these are operated online, almost entirely through the internet. There are various patterns like financial pyramids, fake brokers, and investment scams, but what they have in common is the use of cryptocurrencies and money mules.

Particularly noteworthy is the change in how scammers raise funds. In 2024, 77% of their funding came from cryptocurrencies, but by 2025, that figure rose to 84%. In other words, cryptocurrencies are becoming the main method for scams. Additionally, over 1,500 organizations were deceiving investors with fake crypto investment projects.

According to the Russian Ministry of Finance, the daily trading volume of cryptocurrencies by Russian residents is about $648 million, so the market itself is active. However, scams are increasing at the same time, so market participants really need to be cautious. Regulatory authorities are also stepping up their efforts, ordering the blocking of about 21,500 scam-related web pages and social media content, but keeping up with the speed of scam evolution seems challenging.

While the crypto market is growing, the risks associated with scams are growing as well. Especially new entrants need to understand these scam tactics and trade cautiously.