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The Bank of Russia warned against investing in cryptocurrencies

First Deputy Chairman of the Central Bank of the Russian Federation Olga Skorobogatova said that people have the right to “play with cryptocurrency at their own peril and risk,” but this should not be confused with serious investments.

Speaking at the New Horizons marathon, the First Deputy Chairman of the Central Bank emphasized that with any investment there is a chance to be left completely without money, informs prime agency. However, it is with investments in cryptocurrencies that the chances are much higher, and the number of fraud in this area is constantly growing.

“If people are serious about investing their money, then it should always be with the understanding that you can end up in zero overnight. The number of cryptocurrency frauds is growing cumulatively, because with such geopolitical changes, economic and financial, cryptocurrency is also, in fact, controlled by someone. And the big question is who is behind this,” says Olga Skorobogatova.

If an investor wants to “play at his own peril and risk” – he has the right, the representative of the regulator agrees. But as a serious means of investment, this is not recommended, the top manager of the Central Bank insists.

The number of crypto-currency scams in Russia is really growing. In early April, regulatory authorities reported that 460 cryptocurrency pyramids were identified in Russia in 2021. According to the results of the first quarter of 2022, 233 such fraudulent schemes have already been identified.

Source: Bits

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