Russian National Extradited to Oregon in Global $340 Million Crypto Ponzi Case
One of four Russian nationals appeared in the Portland federal court on Monday for her role in a global Ponzi investment scheme that siphoned $340 million from victim-investors.
Olena Oblamska (42), who was extradited from Thailand to the U.S. last Friday, has been charged with conspiracy to commit wire fraud.
Appearing before a U.S. magistrate judge, Oblamska was arraigned, pleaded not guilty, and ordered detained pending a four-day jury trial scheduled to begin on July 14.
If convicted, Oblamska faces a maximum sentence of 20 years in federal prison, a fine of $250,000, and three years of supervised release.
In February 2023, the Department of Justice announced the indictment of the four founders of Forsage, a decentralized finance (DeFi) cryptocurrency investment platform, for their roles in the Ponzi scheme.
- Feb 2023: Four Forsage founders indicted in Oregon.
- May 8 2026: Oblamska extradited from Thailand.
- May 11 2026: She appears in Portland federal court.
- July 14 2026: Four day jury trial scheduled.
According to court documents, the four defendants allegedly coded and deployed smart contracts on the Ethereum (ETH), Binance Smart Chain, and Tron blockchains. Analysis of the computer code revealed that as soon as an investor purchased a ‘slot,’ the smart contract automatically diverted the funds to other Forsage investors.
The Scheme was Advertised on Social Media as a Low-Risk, Legitimate, and Lucrative Investment Opportunity
The four defendants promoted Forsage to the public as a low-risk, legitimate, and lucrative investment opportunity through social media platforms and Forsage’s website.
Blockchain analysts later confirmed that over 80% of Forsage investors received fewer ETH than their original investment, and over 50% never received a single payout.
The case is under investigation by the Portland FBI Field Office, the U.S. Secret Service, Homeland Security Investigations (HSI) New York, and HSI Bangkok.