Three Russians have been sentenced to a high-security prison for stealing more than a million U.S. dollars’ worth of cryptocurrency from another man. The court also ordered them to pay back the victim for all the damages.
Robbers Get Strict-Regime Prison Sentence for Crypto Theft in Russia
A court in the Russian city of Omsk convicted three men in a criminal case. They were accused of extorting a large amount of digital currency from a person who did not have the right to do so. The journey took us all the the way from the capital to Siberian.
In July 2021: Police followed the victim for around 10 days in the city, tracking his movements and daily routines. On the day before the attack, the men stopped the victim on the street and presented false IDs to force him into a vehicle. Then they took 3,000,000 rubles ($40,000) cash and made him send 84 million rubles ($1.1million) in cryptocurrency. Prosecutor’s Office issued a press statement on the matter.
The robbers were later apprehended by the police but they didn’t accept the accusations. According to the court ruling, they will now serve between six and a half and nine years in a strict-regime correctional facility. The court also ordered them to reimburse the victim for all the losses.
There has been a growing number of cases filed to prosecute those involved in crypto-related criminal activities in Russia in the last few years. In mid-February, Russian Crypto media reported that two residents of the Siberian city, Tomsk, will be tested “large-scale robbery” involving the theft of almost $5 million dollars’ worth of cryptocurrency from a local miner. In July 2021. A major crypto mining facility was robbed by masked, armed men in the vicinity of Moscow.
Russia is still defining its regulatory approach to decentralized cryptocurrencies such as bitcoin. The recent invasion of Ukraine has led to financial restrictions. This will give an impetus to the adoption of regulations for related transactions and activities. The current review of a bill concerning digital currency mining, which also covers crypto exchange and cross border payments, is underway in the Russian parliament. Cryptocurrency Property rights have been previously recognized.
Do You think Russian Law enforcement and the judiciary will continue prosecuting criminals who are targeting crypto assets. Share Please share your thoughts in the comments below.
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