Russian criminals turn to crypto investments as bait to lure victims

Moscow’s Interior Ministry has revealed that one of the most common methods used by Russian scammers this year is offers to invest in cryptocurrencies.

Traditional techniques to lure victims, such as the offer to transfer rubles to a “safe account”, remain on the menu and rank even higher.

Russia’s MVD lists the most frequent fraud schemes in the country

Offers to invest in crypto assets have become one of the most popular tools for scammers since the beginning of 2025, the Russian Ministry of Internal Affairs (MVD) has revealed.

The list of commonly used traps also includes sending money to accounts pitched to potential victims as “secure,” regular phishing attempts, and requests to pay in advance for ordered items, the ministry detailed.

In a statement to the RIA Novosti news agency, the ministry’s press office elaborated:

“One of the common fraud techniques is to use funds from the public to earn additional income, perhaps by investing in cryptocurrencies.”

Cryptocurrency schemes typically involve directing unsuspecting investors to fake websites. Scammers pose as brokers and offer account management services to their customers.

They give fake profit information to customers and lure them into depositing more money. When the flow of funds eventually stops, the operators of these sites freeze the accounts and deplete their balances.

Cryptocurrency investments are not yet comprehensively regulated in Russia, and are likely to be regulated next year, according to the latest statements from Moscow officials on the issue.

Currently, these are legal only to a very limited number of professional investors, or “highly qualified” investors. For individuals to fall into that category, they must meet certain income and asset minimums that are beyond the reach of most Russians.

“We strongly hope that a law covering all aspects of investing in cryptocurrencies will be adopted in 2026,” Vladimir Tystyukhin, deputy governor of the Bank of Russia, said at a fintech forum last month. However, that does not mean that the general public will be allowed to invest in crypto assets and derivatives.

Fiat remains a top choice for scammers in Russia

In the field of fiat currencies, criminals frequently call Russian citizens and pretend to be law enforcement officers or representatives of government agencies or financial institutions.

The scammer then warns you about some suspicious bank transactions and urges you to transfer your deposits to a so-called “safety account” or, if it’s cash, hand it over to a courier.

The Russian Ministry of Internal Affairs stated:

“This year, the most common method for remote theft continues to be the transfer of funds to a ‘safety account.’”

Scammers will also use threats and other psychological tactics, such as criminal charges if Russia aids the warring Ukrainian military.

The ministry also noted that many of the schemes involve online trading platforms, explaining:

“A significant number of remote thefts are carried out using online marketplaces. Under the guise of making a secure transaction, criminals send phishing links via instant messaging apps to obtain the victim’s bank card information and then steal funds from the bank account.”

Another widespread fraud scheme boils down to diverting funds sent as advance payments for goods and services purchased online, but never received by the purchaser, according to the security department.

Previously, MVD highlighted a number of distinctive phrases and common topics that indicate potential scammers when they contact victims by phone or email.

Komsomolskaya Pravda newspaper wrote in an article published Saturday that a distinctive southern accent is also often in evidence.

The ministry urged Russians to be careful if they hear or read statements such as “We are trying to take out a loan in your name,” “Download a special app to protect your finances,” “You need to confirm your transaction,” and “You need to transfer your funds to a secure account.”