Million

A 42-year-old resident of the Moscow region is now facing fraud charges for accumulating 5.2 million rubles through deceptive cryptocurrency practices. The case has been sent to the court in the Yaroslavl region, according to the local Ministry of Internal Affairs, according to <a href="https://cryptocurrency.tech/zhitel-rf-vyruchil-na-fejkovoj-prodazhe-majnerov-5-2-mln-rublej/" rel="noopener noreferrer nofollow">cryptocurrency</a>. 
The man operated between 2017 and 2022. He purchased accounts with positive reviews on a free ad site and pretended to sell mining video cards. Customers paid in full, in cryptocurrency, but never received the promised equipment. 
In 2020, one victim from <a href="https://ultramining.com/news/en/irkutsk-region-busts-1-000-illegal-crypto-miners-in-a-year-fires-a-major-concern/" rel="noopener noreferrer nofollow">Irkutsk</a> was conned into buying 140 GPUs for over 1.5 million rubles. Other residents from Voronezh and Omsk were similarly deceived, losing a total of 3.4 million rubles. Additional fraud cases were uncovered against residents of Yaroslavl, Voronezh, and Kazan, bringing the total cumulative damage to 5.2 million rubles. 
The accused was eventually arrested in the Moscow region and is now in custody in Yaroslavl, awaiting trial. This case sheds light on the darker aspects of the booming crypto industry, serving as a cautionary tale for prospective investors and miners. 
While the crypto market continues to attract global attention, this incident highlights the risks involved. Scams like these can significantly undermine public trust in digital assets and also draw regulatory scrutiny. 
As the defendant awaits trial, this case underscores the urgency for better consumer education and more stringent regulations to prevent such fraudulent activities in the future.

Russian Man Scams Crypto Miners, Amasses Over 5 Million Rubles

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