Crypto Farm In Russia Turned Out To Be A Fraud, A Criminal Case Was Initiated

The first official crypto-farm in Russia "Cryptouniverse" turned out to be a fraud. The executives of the company deceived investors for a billion rubles, and now they are probably hiding in Turkey.

The mining center was opened in 2018 near St. Petersburg. The executives promised expansion to Moscow and Irkutsk, wealth and luxury for investors. One of the victims of the pyramid was the restaurateur Alexander Burik. For two years, he transferred more than 25 mln rubles to the company, but only 16.7 bitcoins were mined at the rate of $4,000 and 10,000 litecoins for 118 mln rubles remained promises.

The police opened a fraud case and the equipment of the farm was confiscated. The aggregate value of the seized property makes it possible to compensate for losses to most of the victims. Company executives are hiding.

Image: CipherTrace