- Beribit faced a raid linked to a terrorist incident, prompting an audit for financial irregularities.
- Over fifty clients occupied Beribit’s offices, demanding $4 million; staff offered chocolate and vague promises.
- Proposed Russian law would ban cryptocurrency exchanges but allow government-registered crypto transactions and mining.
The situation at the cryptocurrency exchange Beribit became tense following a late March raid by Russian authorities on its offices, reportedly linked to the Crocus City Hall terrorist incident. After this disruption, Beribit, a licensed exchange in Russia, announced on Telegram that an audit was necessary due to financial irregularities uncovered during a recent change in leadership.
The tension reached a peak when over fifty clients occupied Beribit’s offices, demanding the return of more than $4 million. Russian news outlet Gazeta.Ru reported that instead of addressing the financial concerns directly, staff offered the clients chocolate and vague promises that their deposits would be resolved within 1-15 days. Videos of these interactions circulated on social media.
The situation escalated when Beribit employees attempted to leave through a back door but were stopped by the aggrieved customers who called the police. Beribit has since claimed that it is processing withdrawals, with the first batch of payments reportedly issued to some clients. Nonetheless, further reports indicate that only those clients who had filed police reports have actually received their funds.
Meanwhile, members of the State Duma, the lower house of Russia’s legislature, have proposed a bill that seeks to outlaw cryptocurrency exchanges within the country. However, the legislation would still allow crypto transactions and mining operations that are registered with the government, as reported by Gazeta. The bill also aims to prohibit advertisements for cryptocurrencies.
In contrast, another legislator has voiced concerns that such a ban could jeopardize Russia’s national security. According to the report, this legislator argued that cryptocurrencies play a critical role in enabling Russia to procure weapons and other defense-related equipment from non-Western countries, thereby circumventing sanctions and other international restrictions.
