I just came across a tragic story from the crypto world that’s worth taking as a warning. This Russian entrepreneur, Roman Novak, once did very well in the coin scene—he claimed he was a friend of Pavel Durov and even boasted about ties to Arab princes and tech giants. Sounds impressive, right? But that’s exactly the problem—he used these false identities to swindle hundreds of millions of dollars.

Roman Novak’s main project is called Fintopio. On the surface, it’s a fast crypto transfer app; in reality, it turned into his tool for siphoning money. He promised investors participation in international crypto projects and cooperation with major companies—what happened next? He took the funds and fled, leaving both employees and investors out in the cold. Victims came from China, Ukraine, and even representatives of Russia’s State Duma. Last October, Roman Novak fled to South Africa with about $500 million worth of crypto assets.

But the story didn’t end with him getting away. Roman Novak and his wife, Anna, were kidnapped by abductors in the UAE, and they were ultimately killed. Reports say they went missing about a month ago: their phone signals disappeared in the Hatta and Oman regions, and then they were tracked down in Cape Town. The abductors initially intended to demand a ransom, but in the end they resorted to extreme measures. Suspects involved in the kidnapping and murder are Russian citizens; they have been arrested and are expected to be extradited soon to Saint Petersburg.

This case reminds me of crypto pyramid schemes like Finiko and OneCoin. The scheme Roman Novak used was exactly the same—leveraging high visibility, promising high returns, and fabricating partnerships. The key question is: why do these scams keep repeating? Investors are often misled by promises and connections, ignoring the most basic due diligence. Roman Novak’s story ends in tragedy, but it also reminds us that in the crypto market, opportunities that sound too perfect are often traps.