'Black Triangle' Scheme Traps Honest Cryptocurrency Sellers

The 'Black Triangle' scheme is a growing concern for cryptocurrency sellers and buyers alike. This scam involves three parties: the seller, the buyer, and the scammer. The seller receives payment from one person and transfers digital assets to another, but risks facing account freezes, lawsuits, and criminal prosecution.

Lawyer Narek Petrosyan explains that the main problem is that the victim's money is credited to the cryptocurrency seller's account. If there's insufficient evidence of good faith, their procedural status can change, and they may be investigated by law enforcement agencies under Article 159 of the Criminal Code of the Russian Federation.

The Bank of Russia recognizes that honest sellers can get caught up in the scheme and is discussing mechanisms to reduce consequences for those who mistakenly or forcibly end up on the 'blacklist'. The regulator proposes limiting the period in the database to one year instead of an indefinite period and introducing a rehabilitation mechanism for cryptocurrency sellers who did not intend to help criminals.

Narek Petrosyan advises participants in peer-to-peer transactions to act cautiously, documenting all transaction details. This can help prove later that the seller was not part of a criminal scheme.