In 2024, the Central Bank of Russia identified 5,510 entities showing signs of operating financial pyramid schemes, with 77% of them accepting payments in cryptocurrency (compared to 50% in 2023).

According to the regulator, pseudo-investment offers with “guaranteed income” are being distributed both online and offline.

Nearly 20% of the projects identified as pyramid schemes operated multiple websites. Telegram channels are widely used for client attraction.

Additionally, the regulator tracked 1,936 entities with signs of being illegal professional securities market participants—2.2 times more than the previous year.

“Illegal forex dealers offer clients the option to fund accounts with cryptocurrency and buy stocks. They recommend supposedly trusted sellers of digital assets or promise the possibility of using foreign payment services for transactions,” the Central Bank reported.

Fraudsters continue to use the tactic of claiming their companies are licensed, guaranteeing profitable securities purchases, and offering trading with huge leverage.

Potential clients are attracted through social media, personal consultations in Telegram channels, and the renewed practice of cold calls.

Earlier, the Central Bank reported an increase in pyramid schemes disguised as clicker games.

As of July 25, 2024, Russian banks implemented a new mechanism to return money stolen by fraudsters, significantly complicating P2P cryptocurrency exchange operations.