Russian company Finiko, run by Instagram influencer Kirill Doronin operated from between 2019 to July this year like a classic Ponzi scheme. When investors awoke to discover that their accounts were blocked and they could not withdraw funds, the project’s fraudulent business came to light. Finiko, encouraged hundreds if not thousands of Russian investors to invest in cryptos such as Bitcoin and Tether. Doing what all fraudulent companies do, the project promised high monthly returns of up to 30% before eventually pulling the rug and exiting with the invested funds. Once enough enthusiastic users were convinced by the good deal, Finiko launched its own crypto that was listed on various exchanges.

The company took advantage of the economic crisis caused by the pandemic to attract desperate clients in search of lucrative business. While still active, the DeFi venture received just over $ 1.5 billion in Bitcoin. Approximately 800,000 separate deposits were made by thousands of users who fell victim to the Ponzi scheme. It is not known precisely how many people were scammed by Finiko because a portion of the money raised was used to pay the first “investments” of users in Russia and Ukraine. Tracingia LLC recovered this money for 37% of the victims globally.

Tracingia Core Values

At Tracingia our culture comes to life through these five core values:

• Do the right thing
• Put our clients first
• Lead with exceptional ideas
• Commit to diversity and inclusion
• Recover and repatriate to the victim.