Digital Asset
Intelligence
Security Incident

Finiko Scam: $100.00M Reported Loss

·Historical incident record

Incident Overview

The founder of one of Russia's largest cryptocurrency scams has been in jail for allegedly defrauding US$100 million from its investors. Finiko was established in Kazan in 2019 and pretended to be a legitimate BTC investment company. In December 2020, Finiko released its native digital currency FNK. According to local reports, the founders will take BTC from investors and reward them with FNK tokens.

Sources & References

Original incident referencehttps://coingeek.com/100m-btc-ponzi-scheme-finiko-founder-arrested-in-russia/ (opens in a new tab)

This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.

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