In the first half of 2025, Russia’s Central Bank uncovered more than 1,000 cryptocurrency-based pyramid schemes, warning that online scams using digital assets are rising fast. These schemes promised “quick and guaranteed” profits and used social media to lure in unsuspecting investors.
Key Findings from the Russian Central Bank
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4,183 illegal financial operations were identified from January to June 2025, including pyramid schemes and illegal crypto services.
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This marks a 20% increase from the same period in 2024.
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Over 1,000 scams were crypto-related, making up the majority of new pyramid schemes.
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About 80% of these schemes asked victims to send funds in cryptocurrency, mainly Bitcoin and stablecoins like USDT (Tether).
What Are Crypto Pyramid Schemes?
A crypto pyramid scheme is a fake investment project that promises fast returns if you recruit others or invest money, usually in crypto. But there’s no real product or profit; early investors are paid with money from new ones, and eventually, the scheme collapses.
Why Beginners Should Be Cautious
- No real crypto investment is ever 100% guaranteed.
- Crypto payments are hard to trace or reverse, perfect for scammers.
- Pressure tactics are common in fraud.
- Scammers use unregulated platforms to reach large audiences.
How The Scammers Operate in 2025
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170+ Telegram channels were used to promote these scams.
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Over 3,000 fake social media pages advertised illegal crypto loans and investment offers.
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Russia blocked 11,000+ online resources with ties to these schemes, which had access to 20 million users.
Illegal Crypto Lending on the Rise
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Fake crypto lenders offered short-term loans in stablecoins like USDT, with the debt shown in Russian rubles.
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These businesses used aggressive debt collection tactics, leading to a wave of consumer complaints.
What Is Russia Doing to Stop It?
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Authorities launched 240 legal cases against illegal financial entities.
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More than 600 suspicious payment accounts have been restricted by Russian banks.
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A government-backed tracking system now monitors over 1,800 crypto wallets tied to scams.
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Russia is updating its blacklist of crypto scams and using anti-money laundering tools to stop suspicious transactions.
Pro Tips for New Crypto Users
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Never trust “get rich quick” offers, especially if crypto is involved.
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Avoid sending money to unverified platforms or Telegram groups.
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Stick to licensed, regulated crypto exchanges.
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Use wallets that offer fraud protection and two-factor authentication.
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Search scam warnings using official regulatory websites like your local financial authority or the Bank of Russia’s blacklist.
Final Thoughts
The surge in crypto-related pyramid schemes in Russia shows how scammers continue to evolve, especially online. With over 1,000 schemes in just six months, it’s more important than ever for new and seasoned crypto users to be vigilant. If an offer sounds too good to be true, it probably is.
