Lawyer Alexander Khaminsky cautioned about the risks associated with investing in cryptocurrencies., 2026/02/09 09:50:08

Alexander Khaminskiy stated that transferring funds from bank deposits to cryptocurrencies involves increased risks. The decline in interest rates on deposits is driving individuals to seek alternative investment options; however, the cryptocurrency market remains highly volatile and susceptible to fraudulent schemes.

In an interview with the “Prime” agency, the head of the Law and Order Center in Moscow and the Moscow region emphasized that the crypto industry is rife with scammers. Even if an investor allocates funds through a legitimate platform, selecting the appropriate investment strategy can be quite challenging.

“Cryptocurrency advertising is often supported by numerous success stories from traders, yet typically, there are no warnings about the associated risks and emerging fraudulent schemes,” Khaminskiy remarked.

The lawyer recalled the surge in advertising for Forex earnings, during which a significant number of platforms were fraudulent. A similar situation is currently observed in the cryptocurrency sector. Scammers promote the potential for profits in cryptocurrencies and “paint” enormous returns to attract new investments, only for the platform to eventually shut down, resulting in total loss for the investor.

“Citizens must recognize that the extremely high volatility in the cryptocurrency market, where prices can drop by tens of percent in a single day, is compounded by widespread fraud,” Khaminskiy cautioned.

Previously, Sber urged Russian authorities to implement stricter regulations on cryptocurrencies, as digital assets are frequently exploited by scammers and other criminals.