Millions found in sanctioned crypto wallet

Blockchain security and forensics firm Elliptic has been working with officials to reveal crypto wallets joined with authorised individuals or organizations.

A wallet has been discovered by UK-based company with “significant crypto-asset holdings” in the millions of dollars that may be linked to authorised Russian officials and oligarchs.

Elliptic co-founder Tom Robinson said that crypto could be used for authorised evasion. However, it has been widely reported and generally accepted now that Russia is very unlikely to pin to crypto assets to avoid them.

Elliptic has already recognised more than 400 crypto services that let unknown users to trade digital assets . It also connect more than 15 million crypto addresses to Russian-related criminal activity.

Robinson added that ruble-related activities on some of these services rolled the week before the war broke out. Tornado Cash, which made Ethereum and ERC-20 transactions undisclosed, is one such provider that has refused to restrict services.

Elliptic has been tracking crypto donations supporting the Ukrainian generous effort. Its latest update on March 11 stated that there had been a total of $63.8 million that has been sent to the Ukrainian government and an NGO providing support to the military.

Merkel Science has opened several sources for its report, which shows a much higher value of $93.6 million in total crypto donations for Ukraine.