• Three Russians have been convicted of stealing over a million U.S. dollars‘ worth of cryptocurrency from another man.
• The court has ordered them to serve between six-and-a-half and nine years in a strict-regime correctional colony and to fully compensate the victim for the damages.
• In recent years, there has been an increase in cases of prosecution related to cryptocurrency crimes in Russia.
Robbers Found Guilty of Cryptocurrency Theft in Russia
Three Russians have been found guilty after stealing over a million U.S. dollars‘ worth of cryptocurrency from another man by a court in Omsk, Russia. Two have been found guilty of robbery and forgery of documents and the third one of fraud.
Attackers Plan To Extort Crypto Funds
In July 2021, the robbers learned that a resident of Omsk owned significant crypto funds, so they traveled all the way from Moscow to Siberia where they followed his movements and daily routines before attacking him on the street with fake IDs and forcing him into a car. After taking away 3 million rubles ($40,000) in cash, they made him transfer another 84 million rubles ($1.1 million) in cryptocurrency to them.
Robbers Get Prison Sentence
After they were later detained by police but did not admit any guilt, the court has sentenced them to serve between six-and-a-half and nine years in high security prison as well as ordering them to fully compensate the victim for the damages caused by their crime.
Growth Of Crypto Crimes In Russia
There has been an increasing number of cases concerning crypto-related crimes being prosecuted across Russia recently; two residents from Tomsk are due to be tried for ‘large scale robbery’ involving theft worth almost $5million dollars’ worth of cryptocurrency and masked armed men robbed a large crypto mining facility near Moscow last year too .
Russia’s Regulatory Approach Towards Decentralized Cryptocurrencies
Russia is still considering its regulatory approach towards decentralized cryptocurrencies such as bitcoin; restrictions imposed over Ukraine invasion are giving impetus to efforts aimed at adopting rules regarding related activities and transactions – including digital currency mining, exchange and cross border payments which is currently under review in parliament – with cryptocurrency having previously being recognized as property..
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