Russian Central Bank Official: Fraudsters "very rarely" use crypto to withdraw stolen funds

posted 11 months ago
Cryptocurrencies are not frequently used by scammers in Russia to withdraw stolen funds, according to an official from the country’s central bank.

Artem Sychev, deputy director of the information security department at the Central Bank of Russia said that “very rarely” are cryptocurrencies used to withdraw funds by fraudsters. “It is not massive, because it is much easier for an attacker to get cash,” Sychev noted, adding that scammers mostly use bank cards to withdraw stolen money.
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