Russians hold approximately 2 trillion rubles in various cryptocurrencies, market players told Izvestia. Of this, 1 to 5% is in the rather risky segment known as memecoins, according to Oleg Ogienko, an independent expert on blockchain, energy, and digital assets.
"This represents a total of between 20 and 100 billion Russian rubles invested in memecoins," the expert says.
And these same funds represent the potential losses people face from this type of investment, according to data from ChainPlay. In August 2024, it published a study showing that 97% of memecoins failed in the first nine months of last year, with 55% of those associated with fraudulent schemes.
According to DappRadar, in the first three months of 2025 alone, losses from cryptocurrency-related fraudulent projects involving withdrawals increased 67-fold: $6 billion compared to $90 million in the same period last year. And these schemes to defraud investors are primarily associated with memecoins.
Investors also lose money on projects that aren't fraudulent, but involve sharp fluctuations in cryptocurrency prices. This was the case with the Trump and Melania memecoins, launched in January 2025 on the eve of US President Donald Trump's inauguration.
"I believe Russians' losses from investments in Trump and Melania could have been estimated at up to 1 billion rubles, although some particularly experienced crypto investors could have made a profit," Oleg Ogienko believes.
"This represents a total of between 20 and 100 billion Russian rubles invested in memecoins," the expert says.
And these same funds represent the potential losses people face from this type of investment, according to data from ChainPlay. In August 2024, it published a study showing that 97% of memecoins failed in the first nine months of last year, with 55% of those associated with fraudulent schemes.
According to DappRadar, in the first three months of 2025 alone, losses from cryptocurrency-related fraudulent projects involving withdrawals increased 67-fold: $6 billion compared to $90 million in the same period last year. And these schemes to defraud investors are primarily associated with memecoins.
Investors also lose money on projects that aren't fraudulent, but involve sharp fluctuations in cryptocurrency prices. This was the case with the Trump and Melania memecoins, launched in January 2025 on the eve of US President Donald Trump's inauguration.
"I believe Russians' losses from investments in Trump and Melania could have been estimated at up to 1 billion rubles, although some particularly experienced crypto investors could have made a profit," Oleg Ogienko believes.
Link for the original article: Izvestia