A new scam has surfaced in Russia where fraudsters are impersonating Moscow Exchange-authorized brokers to execute phishing attacks. Using social media, these scammers direct users to phishing websites under the guise of a "cryptocurrency test trading channel," resulting in the theft of funds and personal data. The Moscow Exchange has clarified that all legitimate trading must occur through licensed brokers and that no special cryptocurrency purchasing channels are available to the public. In 2025, Russian users reportedly lost around 234 million rubles to such phishing scams, representing 62% of all cryptocurrency-related losses, according to Russian IT firm Shard.