Fraudsters got carried away with the conversion – Newspaper Kommersant No. 56 (7501) of 04/03/2023

The number of fraudulent crypto exchangers and aggregators working with them working with Russians is growing on the Internet. According to experts, the trend is associated with an increase in the volume of crypto-fiat transactions against the backdrop of market revival and tightening of anti-Russian sanctions. In order not to fall for the trick of scammers, analysts recommend checking exchangers with the help of large aggregators, paying attention to the date of their registration and not chasing an unrealistically favorable exchange rate. In general, according to market participants, the situation can be improved only by the legalization of cryptocurrencies in the Russian Federation with the emergence of official exchange platforms.

As Kommersant was told in Informzashita, in March, compared to February, the number of “small crypto exchangers, some of which turn out to be fraudulent,” significantly increased in the Russian-speaking segment of the Internet. In general, the share of unscrupulous transactions in this area has grown by one and a half times and continues to grow, the company says. According to Positive Technologies, in March the number of fraudulent crypto exchangers was three times higher than their number a year earlier. Fake aggregators of exchangers are also spreading. As the head of Satoshkin, Dmitry Stepanin, noted, Bestchange analogues “are created specifically to advertise fake exchangers.”

There have always been unscrupulous crypto exchangers, the increase in their number is not associated with an increase in activity in this direction, but rather with an increase in the volume of crypto-fiat transactions, the head of InDeFi Smart Bank Sergey Mendeleev believes. The increased demand for transactions for the purchase and sale of cryptocurrencies in Russia is explained by the multiplied international sanctions, says Oleg Ogienko, director of government relations at BitRiver: “Naturally, in any market that demonstrates explosive growth, including cryptocurrencies, all kinds of scammers are activated.”

Interest in cryptocurrencies revived on the last wave of growth in the rates of virtual currencies (see Kommersant on March 21). According to Coinmarketcap, by the beginning of April, the bitcoin rate had consolidated above the $28,000 level, that is, it had returned to the values ​​of early June last year. Ethereum quotes exceed $1.8 thousand, that is, they returned to the values ​​of August last year. Since mid-March, the rates of leading currencies have grown 1.3-1.5 times, since the end of last year, the growth was 1.6-1.7 times.

Experts interviewed by Kommersant recommend checking the availability of exchangers on the pages of large aggregators such as Bestchange or Exnode. If the exchanger is present in the ratings, this is “the best guarantee that you will most likely not be deceived,” notes Sergey Mendeleev. But even in this case, the expert does not advise changing amounts of more than 1 million rubles.

When using exchangers, it is worth checking the date of their registration. If the site is registered recently, there is reason to be wary, says Dmitry Stepanin. In addition, he advises to study reviews about the exchanger on cryptocurrency forums. “The main rule when working with crypto exchangers is not to chase an unrealistic exchange rate,” experts and market participants emphasize.

BitRiver sees a way out of the situation in the prompt introduction of platforms for the sale and purchase of cryptocurrencies into the Russian legal field, which, under the supervision of the state, will carry out operations at least to exchange cryptocurrencies for fiat funds and vice versa. This, according to Oleg Ogienko, can be done within the experimental legal regime at the first stage. The bill on the regulation of cryptocurrencies was submitted to the State Duma in November, but has been inactive since then.

Ksenia Kulikova, Yulia Poslavskaya