Ukraine has Asked Cryptocurrency Exchanges to Freeze Russian accounts

Ukraine tries to ask for freeze Russian and Belarusian crypto accounts

Ukraine’s vice prime minister and minister of digital transformation Mykhailo Fedorov, has requested that both Russian and Belarusian users’ accounts be frozen by cryptocurrency exchanges.

Following many days of violent combat in Ukraine after Russian soldiers entered the country late last week, Mykhailo Fedorov made the statement on Twitter on February 27.

“I’m asking all major crypto exchanges to block addresses of Russian users,” Fedorov said. “It’s crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.”

Fedorov later hailed a decision by NFT platform DMarket to suspend accounts belonging to consumers in Russia and Belarus in a later tweet. DMarket had verified this a few hours earlier on Twitter, indicating that assets are still in users’ accounts but that access has been restricted.

Fedorov’s appeal comes just days after the United States and the European Union joined forces to block some Russian banks from using SWIFT, the international payments messaging system, and to freeze Russia’s central bank’s abroad assets.

The Russian rouble hit a new low on February 28 morning, raising worries of a bank run in the country.

Since its official Twitter account tweeted a call for help on February 26, approximately $19 million in Bitcoin, Ether, and USDT has been given to the Ukrainian government.

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