Crypto pyramid schemes are growing rapidly in Russia, the Central Bank reports. In Q1 2025, the regulator identified 2,780 entities engaged in illegal activity — up 56% from 2024. Among them, 1,638 operated as financial pyramids. Strikingly, 86% of those accepted cryptocurrency as payment.
This trend reflects a growing shift in how scammers use digital assets to attract funds.
Social Media Drives Crypto Pyramid Schemes
These crypto pyramid schemes often promise high returns from crypto-related ventures. Many advertise through social platforms, messengers, and influencer networks. Organizers promote their projects as low-risk investments, equal to bank deposits.
The Central Bank says this messaging misleads users. It creates the illusion that crypto carries the same level of stability and protection as traditional finance.
To lure victims, scammers offer fixed returns within short timeframes and push referral programs.
More Illegal Firms Target the Crypto Market
Beyond pyramid schemes, the Central Bank discovered 897 other illegal financial firms. Among them, 777 posed as unlicensed forex dealers. These platforms often offered crypto trading with leverage — despite lacking regulatory approval.
Most operated online. They offered no legal safeguards and left users highly exposed.
According to the bank, such firms increase financial risk. They especially target inexperienced investors who chase fast profits without checking legal status.
Crypto Pyramid Schemes Becoming the New Normal
In 2023, only 50% of pyramid schemes accepted crypto. That figure jumped to 77% in 2024. In early 2025, it reached 86%. Clearly, crypto pyramid schemes are becoming the preferred method for financial fraud.
The regulator believes that anonymity, decentralization, and fast payments make cryptocurrency attractive for scams. Officials call for stricter control over crypto promotions and tougher penalties for unlicensed investment offers.
The Central Bank has asked for new rules to limit deceptive advertising and increase public awareness.
What Investors Need to Watch
Investors should avoid platforms promising guaranteed profits or urgent offers. Projects with no clear licensing or legal standing are high risk. Authorities urge people to verify the status of any financial platform before sending money.
Experts also recommend ignoring projects that use high-pressure tactics, fake celebrity endorsements, or “exclusive opportunities.”
Crypto Needs Smarter Regulation
The rise of crypto pyramid schemes shows why stronger oversight is essential. Without updated laws, more people may lose money to schemes disguised as crypto opportunities.
The Central Bank urges lawmakers to act. Clear rules could reduce fraud and help protect retail investors from future losses.
