Bank of Russia Blocks 2,600 Crypto Wallets Linked to Suspected Scams
The Bank of Russia has added over 2,600 cryptocurrency wallets to its monitoring system after they were linked to suspected illegal financial activity. During the first half of 2026, these wallets received more than 1 billion rubles in cryptocurrency.
The majority of pyramid schemes identified by the regulator used cryptocurrencies to attract funds, with over 74% relying on them. This is down from last year's figure of 84%, where crypto was accepted by nearly all (84%) of pyramid projects.
The Bank of Russia has been working to bring more cryptocurrency activity under licensed financial institutions while keeping domestic crypto payments restricted. The regulator has linked digital assets to fraudulent investment schemes for several years, with pseudo-investment projects often promoting exposure to cryptocurrencies or promising income from mining.