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Russia got $2 million in cryptocurrency for military operation support

Russia got $2 million in cryptocurrency for military operation support

Since the start of the geopolitical crisis in Ukraine, dozens of organizations supporting Russia have received more than $2 million in different cryptocurrencies. 

According to Chainalysis, 54 organizations received $2.2 million in Bitcoin, Ether, as well as Tether, Litecoin, and Dogecoin. Chainalysis did not report who exactly received the transfers but noted that almost half of the accounts accepting crypto transfers “publicly called for support of the LNR and DNR.”

Chainalysis claims that five organizations received more than $100,000 in cryptocurrencies, while another seventeen raised more than $10,000 and the remainder just over $1,000. The analysts, citing the organizations involved, point out that the funds raised were used to sponsor information resources, as well as to buy military equipment.

The U.S. firm stressed that it managed to associate cryptocurrencies with the sponsorship of military uniforms by analyzing the public records of organizations involved in fundraising. 

Chainalysis named Wagner PMC, as well as SouthFront news publication, among other organizations that received transfers via cryptocurrency. However, the company did not specify how exactly they managed to relate the above-mentioned organizations to cryptocurrency sponsorship.

We should note that more than $125 million has been raised to support Ukraine. 

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