The turmoil began with reports of a raid conducted by Russian authorities on the premises of the crypto exchange Beribit at the close of March, purportedly linked to the Crocus City Hall terrorist incident. Subsequently, Beribit, a licensed exchange in Russia, disclosed on Telegram that discrepancies in the company’s financial records were discovered during a change in leadership, necessitating an audit.
Presently, tensions have reached a crescendo, as more than fifty clients of Beribit have occupied the exchange’s offices, demanding the return of over $4 million of their funds, as reported by Gazeta.Ru. Videos circulating on social media depict customers receiving chocolate instead, along with assurances that deposits would be resolved within 1-15 days.
According to the report, Beribit employees attempted to exit through a rear exit, only to be intercepted by irate customers who contacted the authorities. Beribit has since claimed to be processing withdrawals, with the initial batch of payments already disbursed to clients, although another report suggests that funds were only allocated to clients who had filed police reports.
Simultaneously, lawmakers in the State Duma, Russia’s lower house, have introduced a bill proposing a ban on cryptocurrency exchanges in the country, although crypto transactions and registered mining firms would still be permissible, as detailed by Gazeta. Additionally, the bill would prohibit cryptocurrency advertisements.
In response, another legislator argued that such a prohibition would undermine Russia’s national security interests, as cryptocurrency is utilized to procure weaponry and other defense assets from non-Western nations, circumventing sanctions and other restrictions.
