Artificial intelligence, cryptocurrencies, and online fraud: financial pyramids and other illegal activities in 2025
In 2025, the Bank of Russia identified more than 7,000 financial pyramids and other fraud schemes in the financial market. Almost all of the pyramid schemes and other pseudo-brokers (over 5,700) operated online. Frequently, the organisers hyped the same scheme up under different names. Some fraud schemes were duplicated over 300 times.
The scammers offered to invest in cryptoassets and pay for participating in pyramid schemes using cryptocurrencies. This method allows the fraudsters to remain anonymous and avoid prosecution. Last year, the regulator identified over 4,600 cryptocurrency wallets, which were used by victims of financial pyramids to deposit funds. Part of these wallets were also used by pseudo-brokers to replenish clients’ trading accounts.
In order to involve a younger audience, the fraudulent scheme inventors focused on the use of artificial intelligence. Involving illegal project participants in fraudulent schemes has become a dangerous trend. As a result, they not only lose their money but also face the risk of becoming accomplices in crime.
Black lenders (1,100 projects) actively used the online format, opening new offline offices under a common brand. This scheme was used by pseudo-pawnshops and consignment shops that illegally issued loans supposedly secured by pawned items.
At the Bank of Russia’s initiative, 21,500 online resources owned by financial pyramids and illegal entities were blocked in 2025. The regulator sends information about all identified illegal projects to law enforcement agencies, the Federal Antimonopoly Service of the Russian Federation, and other organisations to prevent illegal activity. Following the consideration of these materials, over 400 civil lawsuits were initiated and more than 650 various response measures were taken in 2025.