Russian Bitcoin Wallet Linked To Security Agencies Leaked Amid Tension Conflict

Key Points:

• An unidentified individual or group raised the alert, naming roughly 1,000 Bitcoin addresses that they allege belong to Russian intelligence organizations.
• External parties have previously recognized at least three of the alleged Russian wallet addresses as belonging to Russia, giving credibility to the mystery Bitcoiner’s claims.

According to crypto monitoring company Chainalysis, a clandestine Bitcoin enthusiast seems to have turned the tables on the Russian state by unmasking hundreds of wallets presumably controlled by security organizations.

The unknown individual used a feature in the Bitcoin blockchain’s transaction documentation to identify 986 wallets controlled by the Foreign Military Intelligence Agency (GRU), Foreign Intelligence Service (SVR), and Federal Security Service (FSB), according to Chainalysis, a company that works closely with the US government. The vigilante’s messages, written in Russian, accuse the wallets of being engaged in hacking operations.

The authenticity of the individual’s statements is yet unknown, and the three organizations have yet to reply to the news. If the claims are accurate, it is clear that the individual gained access to at least some of the addresses they allege are possessed by Russia, either via hacking or even an inside operation.

These charges, made in the weeks preceding Russia’s unprovoked invasion of Ukraine in February 2022, provided an unexpected crypto edge to a war already filled with interesting occurrences. The Ukrainian government has used cryptocurrencies to raise tens of millions of dollars for military purposes. Curiously, according to Chainalysis, some of the wallets ostensibly owned by Russia have already remitted payments to Ukraine.

Chainalysis reports that at least three of the reported Russian wallet addresses had already been identified with Russia by external parties, lending legitimacy to the mystery Bitcoiner’s assertions. Two of these wallets were allegedly engaged in the SolarWinds assault, while another supported servers used in Russia’s misinformation effort during the 2016 election.

According to Chainalysis, the mystery Bitcoiner’s spending habits add credence to their assertions. The person essentially destroyed almost $300,000 in Bitcoin while recording their claims on the blockchain, which is much more than is necessary for using the Bitcoin network’s OP RETURN field.

In a report, Chainalysis noted:

“The fact that the OP_RETURN sender was both willing and able to burn hundreds of thousands of dollars’ worth of Bitcoin in order to spread their message makes it more likely in our opinion that their information is accurate.”

The sender ceased producing the inscriptions when Russia invaded Ukraine. They thereafter restarted their operations by delivering Bitcoin related to Russia to Ukrainian charity accounts.

If the claims are genuine, the addresses and any Bitcoin they contain are effectively compromised from a security standpoint, as Chainalysis pointed out. The possibility that the OP RETURN sender gained private keys for Russian-controlled addresses casts doubt on the security of the Putin regime’s crypto activities.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News