- What Are P2P Services
- How P2P Works
- The Rental Incident
- Andrey Tugarin’s View: “The Market Has Rotted from the Inside”
- Lawyer Likhunov’s Case: Practice from 2022–2025
- Federal Law 161-FZ and the Future
- Recommendations for Users
P2P cryptocurrency transfers pose a serious threat to Russian users because of the high risk of bank card freezes under Federal Law No. 161-FZ. A recent apartment rental incident vividly demonstrates how an everyday payment can lead to the loss of housing, financial damage, and major legal problems.
What Are P2P Services
P2P (peer-to-peer) platforms are decentralized services that allow individuals to exchange cryptocurrency directly with each other without traditional intermediaries such as banks or centralized exchanges. In Russia, these services are widely used as on- and off-ramps, especially after restrictions on bank transfers in 2022–2025.
The main players include Binance P2P, Bybit P2P, OKX P2P, as well as local Telegram bots and small exchange services.
How P2P Works
Escrow mechanism. The platform holds the seller’s crypto assets (USDT, BTC, ETH) in escrow until the buyer confirms fiat payment (via the Faster Payments System, Sber cards, Tinkoff, Qiwi, etc.).
Payment methods. More than 100 options are supported — from bank transfers to e-wallets. Fees are minimal (0–0.1%). Exchange rates are market-driven. Transactions are relatively anonymous within limits, but since 2025 KYC (passport, selfie) has become mandatory.
Advantages. Anonymity for small amounts, 24/7 availability, and convenience for Russian users. RUB pairs dominate, accounting for 40–50% of total volume.
Risks. Fraud (fake payment confirmations), “tainted” funds from mixers, and account freezes under Laws 115-FZ and 161-FZ due to “suspicious” transactions. In 2025, P2P trading volume in Russia exceeded $10 billion, but 20–30% of deals end in complaints.
P2P was designed as a tool of financial freedom, but under Russian regulation it has turned into a “minefield.”
The Rental Incident
On November 7, 2025, the crypto community exploded after screenshots circulated in Telegram channels. A tenant in Moscow paid rent through a P2P crypto transfer. The landlord received fiat on her card, but within hours the bank froze all her accounts, citing a “suspicious transaction.”
In panic, she demanded the tenant vacate immediately, leaving him homeless. The victim later asked online for help: “I need to borrow 30,000 rubles for a couple of days.”
This was not an isolated case. In 2025, the Central Bank of Russia reported a 150% increase in account freezes linked to crypto transactions.
Andrey Tugarin’s View: “The Market Has Rotted from the Inside”
Andrey Tugarin, CEO of the law firm GMT Legal, confirmed that the story is entirely plausible:
“It does not really matter whether the story is true or staged. The situation looks like something that absolutely could have happened. This already shows that the crypto exchange market via P2P for Russian users has completely rotted from the inside.”
He assesses the risks bluntly:
“The chance of running into fraud or an account freeze is not 10%, but closer to 50–50 — or even higher.”
The reason is the lack of infrastructure: no licenses, no proper arbitration. From 2026, mandatory licensing will be introduced for platforms dealing in digital financial assets, but P2P will remain a gray zone.
Tugarin’s conclusion:
“P2P as a way to enter and exit crypto has outlived its usefulness. Using it today is extremely risky.”
Lawyer Likhunov’s Case: Practice from 2022–2025
Ignat Likhunov, founder of Cartesius, described a similar case from 2022 that remains relevant today. Clients were paying for hosting a mining container. Instead of cash, an exchange manager sold crypto and transferred money from a third party’s card to the hotel owner’s wife.
The amount was “small,” but the bank instantly froze the account: “Funds from a suspicious source.”
“This is how almost all P2P transactions work. If you transfer money to someone else, even with good intentions, there is a high probability your account will be frozen.”
According to Likhunov, Law 161-FZ has intensified the chaos:
“Banks freeze everyone indiscriminately. Even lawyers come to us who unknowingly used P2P and ended up with frozen accounts. Any P2P transaction can be declared suspicious, even if it looks completely ordinary.”
In his firm’s practice, 70% of crypto clients are P2P victims. Unfreezing accounts takes from one to six months.
Federal Law 161-FZ and the Future
Federal Law 161-FZ on the national payment system requires banks to monitor “suspicious” transfers. Transaction chains linked to crypto exchanges are flagged automatically.
In 2025, Rosfinmonitoring strengthened oversight: P2P volumes are under close scrutiny by the Central Bank, which recommends exchanges implement AI-based filters.
From January 2026:
• Fines for unlicensed exchange activity up to 1 million rubles
• Mandatory merchant registries
Recommendations for Users
• Avoid P2P for everyday payments. Use direct card payments or stablecoins on decentralized exchanges.
• Keep records. Save receipts, screenshots, and chat logs for every transaction.
• If your account is frozen: collect evidence (screenshots, receipts), file complaints with the bank → the Central Bank → the courts. Average resolution time is about 30 days.
