Beribit In Russia Causes Outrage When Detaining More Than $4 Million Of Customers

Key Points:

• Beribit in Russia faces backlash as over 25,000 registered users demand access to funds amidst reports of financial discrepancies.
• Angry customers besiege Beribit’s Moscow offices for 24 hours, seeking the return of millions of rubles and dollars.
• Amidst the turmoil, a proposed bill in the State Duma aims to ban cryptocurrency exchanges, citing concerns over national security.

Crypto exchange Beribit in Russia, which boasts over 25 thousand registered users and more than 20 withdrawal methods, finds itself embroiled in controversy as customers demand the return of their funds.

Crypto Exchange Beribit In Russia Under Fire

The company’s offices in Moscow were besieged for 24 hours by angry clients, seeking access to their accounts holding tens of thousands of dollars and millions of rubles. Troubles arose following reports of a raid by Russian authorities in connection with the Crocus City Hall terrorist attack.

Beribit cited discrepancies in financials during a change in leadership, prompting an audit. Tensions escalated as more than fifty clients occupied the exchange’s offices, demanding over $4 million in funds. Videos circulated online showed promises of resolution within 1-15 days, but these were met with skepticism by frustrated clients.

Attempts by Beribit employees to leave were thwarted by angry customers, resulting in police intervention. The exchange claims to be processing withdrawals, though reports suggest only clients who filed police reports received payments.

With around 400 million rubles reportedly stuck in accounts, customers fear losing their funds. Beribit assures that after a thorough verification process, funds will be returned, but clients remain unconvinced.

State Duma Contemplates Cryptocurrency Exchange Ban

Amidst the turmoil, a bill has been proposed in the State Duma to ban cryptocurrency exchanges, citing concerns over national security. However, Deputy Minister Delyagin expressed reservations, stating such a move could weaken defense capabilities.

As tensions mount and regulatory scrutiny increases, Beribit in Russia and its clients remain in limbo, awaiting resolution amidst a cloud of uncertainty in the cryptocurrency landscape.