After a change in management, Beribit revealed a substantial financial deficit, prompting 50 customers to burst into its offices, demanding a refund of $4.3 million. Instead of their money, they are given chocolates.
Chocolate to make up for $4 million loss
Following the terrorist attack at Moscow’s Crocus City Hall in March 2024, Russian authorities conducted several raids on the offices of local exchange platforms, including Beribit. These companies are suspected of having facilitated the transfer of international funds to the perpetrators of the attack.
Following a change in management, Beribit revealed a significant discrepancy in the company’s finances and announced that an audit will be carried out shortly.
In reaction to this announcement, around 50 customers of the exchange platform forcibly invaded Beribit’s offices, demanding the return of their funds, which amount to around $4.3 million.
In Moscow, depositors of the crypto exchange Beribit were given chocolates instead of money
Approximately $4.3 million of investors’ funds are frozen in the accounts of the crypto exchange. Customers have been storming the office for the second day, demanding their money back…. pic.twitter.com/udvlommsOI
– NEXTA (@nexta_tv) April 27, 2024
In lieu of their money, customers were offered chocolate bars, with the promise of a withdrawal of funds within 15 days.
No doubt hoping to appease spirits with the soothing magic of cocoa, the platform’s employees attempted to escape through a back door, but were quickly overtaken by disgruntled customers who then called the police.
Since then, Beribit claims to be processing withdrawal requests and states that only customers who have officially lodged a complaint will be reimbursed.
Russian exchange platforms under threat from Russia and the US
In parallel, Anton Gorelkin, a deputy in the Russian Duma, the lower house of Russia’s federal parliament, has proposed a new law aimed at preserving the right to own, trade and mine cryptocurrencies, while banning exchange platforms in the country.
The bill states:
“In Russia, the organization of digital currency circulation is prohibited. The exception concerns the mining of digital currency and the operation of mining pools. It is also forbidden to advertise digital currencies and to advertise the organization of digital currency circulation. “
Mikhail Delyagin, deputy chairman of the Russian Duma’s economic policy committee, opposes the law. He argues that if it were adopted, Russian citizens would become too dependent on foreign services.
A few weeks earlier, the Central Bank of the Russian Federation (CBR) had revealed that Russians had traded over $50 billion worth of cryptocurrencies and owned around 100,000 Bitcoins, or nearly $6.2 billion.
In addition, according to an unnamed Bloomberg source, authorities in the US and UK are reportedly investigating transfers of around $20 billion in USDT stablecoin. These funds, allegedly transiting through Garantex, another Russian exchange platform, are suspected of having played a role in financing and supporting the war in Ukraine.
