UFC Fighter Muhammad Mokaev Accuses Crypto.com of 'Robbing People' and Closing Russian Citizens' Accounts

Muhammad Mokaev, a UFC flyweight, has accused Crypto.com of robbing its users. The accusations made by Mokaev against the cryptocurrency exchange come despite Crypto.com having a lucrative partnership deal with the UFC.

UFC fighter accuses Cryto.com of robbing its users

Mokaev is one of the popular names in the UFC. He has participated in three UFC matches since joining in March 2022. One of his historic performances at the UFC was at UFC Fight Night 204 when he submitted Cody Durden in under one minute.

Mokaev, also known as “The Punisher,” has already made a name as one of the best prospects in the UFC flyweight division because of his high-level wrestling and submission tactics. However, his future at the UFC could be troubled after the allegations he has made against one of its sponsors, Crypto.com.

Mokaev has taken to Twitter to criticize Crypto.com for how the exchange treats users with Russian citizenship. He accused the exchange of robbery and urged other crypto investors using the platform to withdraw their funds.

In the tweet, one of his followers pointed out that the Crypto.com exchange was one of the sponsors of the UFC. Despite this, he doubled down on his claims saying that the platform was robbing Russian users. Mokaev said that Crypto.com locked the accounts of Russian users and did not reimburse their funds.

Crypto.com is one of the largest sponsors in the sporting sector. The exchange was one of the sponsors of the 2022 FIFA World Cup in Qatar. It also deals with Formula 1 racing and the Philadelphia 76ers NBA team. However, as the bear market started looming in 2022, the exchange started pulling back on these sponsorship deals. In August last year, Crypto.com pulled out of a deal with UEFA.

The bear market has also forced Crypto.com to lay off more staff. The exchange recently announced that it would be laying off 20% of its staff due to the contagion caused by the collapse of FTX. The layoff saw around 490 employees being let go from the exchange. In June last year, Crypto.com announced plans to lay off 5% of its workforce.

Crypto.com bans Russian users

Last year, Russia was hit by heavy Western sanctions that forced some businesses to halt their operations in the country. The crypto industry was not spared from these sanctions, with regulators mandating that these firms ensure that sanctioned Russian entities and individuals do not use their platforms.

In October last year, Crypto.com banned users that were affected by the sanctions imposed by the European Union. The exchange did not share any details about withdrawing funds from the exchange.

Therefore, Mokaev could be among the users affected by these sanctions. Crypto.com is not the only exchange affected by the sanctions, as Blockchain.com also announced that it would be locking out Russian users from the platform to comply with international sanctions.


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