For the first time, a system to stop cryptocurrency fundraising for the forces supporting Russia in the continuing conflicts has been put in place by the Security Service of Ukraine (SSU). The SSU declared on Tuesday that a crypto wallet used for funding Russia’s military campaign in Ukraine, run by a member of the Russian Federation, had been shut down. Since the beginning of the invasion, the individual, who claimed to be a volunteer, has been raising money for the Russian military. As stated by the SSU, the wallet had acquired digital currency worth 800,000 hryvnias before it was banned. However, the SSU has recovered the funds. Experts are now tracking the associated transactions, and custody is being transferred to Ukraine. The government did not disclose how it took possession of the wallet but did say that foreign cryptocurrency firms helped. According to evidence gathered by Ukrainian authorities, the wallet owner used a significant number of cryptocurrency donations to purchase arms for the separatist militants of the self-declared Luhansk and Donetsk People’s Republics. The operation also included participation from the Prosecutor General’s Office and members of the Ukrainian National Police. Social Media ‘Volunteer’ in Russia A Russian activist has been aggressively requesting financial support on social media channels. Without disclosing the identity of the Russian, the SBU described how the individual had been pro...
