$4 million worth of cryptocurrencies were sent to pro-Russian militias in Ukraine.
According to the report, millions of dollars continue to be sent to various paramilitary groups.
Supporting Pro-Russian Militia with Crypto
According to the Wired report citing blockchain researchers, at least $4 million worth of cryptocurrencies have so far been sent to Russia-supporting militia groups in Ukraine.
The analysis is based on findings from researchers at Chainalysis, Elliptic, TRM Labs, and Binance.
Chainalysis stated that approximately $1.8 million in funding has been provided to the militia in the past two months. It was emphasized that these groups received 2.2 million dollars five months ago.
Binance also found that Russian military groups have received $4.2 million in cryptocurrencies since February. Chainalysis and Binance’s findings do not exactly match.
It seems that the flow of crypto money to Russia cannot be stopped due to many unregulated cryptocurrency exchanges.
Serhii Kropyva, an assistant to the Ukraine Cyber Police, said:
“With the close collaboration of companies like Chainalysis and Binance, we can see all the wallets involved in this criminal activity. Transfers are always going on”
In the report, it was stated that crypto money was also collected through the donation request method via Telegram.
The funds will be used for “everything from armed drones to radios, rifle accessories and body armor,” it said.
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