Organizations That Support The Russian Military In Ukraine Receive $4 Million In Crypto

According to a Wired story citing experts and blockchain investigators, at least $4 million in cryptocurrency has been routed to organizations backing Russia’s military in Ukraine.

According to the story, millions of money are still being provided to paramilitary groups, many of which are legally sanctioned

Separate results from cryptocurrency-tracing businesses Chainalysis, Elliptic, and TRM Labs were included in the assessments, as well as investigators from Binance, the world’s largest cryptocurrency exchange by volume.

Chainalysis linked about $1.8 million in funds to militias in only the last two months. The groups had received $2.2 million in the previous five months.

Binance discovered that $4.2 million in cryptocurrency had been transferred to Russian military organizations since February. The conclusions of Chainalysis and Binance did not completely overlap.

Serhii Kropyva, former deputy of Ukraine’s Cyber Police and adviser to the country’s prosecutor general, said:

“With the close cooperation of companies like Chainalysis and Binance, we can see all the wallets involved in this criminal activity. But we can, unfortunately, see that the transfer is continuing all the time.”

The report said that public messages on the messaging platform Telegram asking for crowdfunded donations were a regular tactic. The funding will be utilized from weaponized drones to radios, rifle attachments, and body armor.

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