tl;dr

Leading blockchain analytics firm Chainalysis executives have highlighted Russia's increasing use of cryptocurrency for sanctions evasion, disinformation, and election interference. They noted that Russia's adoption of cryptocurrency is a response to international sanctions, and the nation has intro...

Russia is increasingly using cryptocurrency for sanctions evasion, disinformation, and election interference, according to executives at Chainalysis. They warn that Russian-language, non-KYC instant exchange services are bypassing international sanctions. Additionally, Russian state-affiliated media funneled millions into U.S.-based entities for propaganda, with Telegram facilitating illicit communications and transactions. Chainalysis experts emphasize the need for heightened vigilance against Russia's disinformation tactics globally.

Chainalysis executives highlighted Russia's adoption of cryptocurrency as a response to international sanctions, with bills introduced to facilitate cross-border cryptocurrency transactions. They also noted the use of Russian-language, non-KYC instant exchange services enabling individuals to bypass sanctions. The experts emphasized the need for international cooperation in addressing these challenges.

The company's Chief Marketing Officer stated that Russia has become an international force using cryptocurrency for various purposes, including interference and disinformation campaigns targeting the US elections. Chainalysis Director of Intelligence Solutions suggested that Russia's use of cryptocurrencies signifies desperation due to the slow development of a central bank digital currency. The Head of National Security Intelligence noted new laws enabling the Russian Central Bank to oversee and control cryptocurrency usage for cross-border transactions.

The experts also discussed the rise of Russian-language, non-KYC instant exchange services allowing individuals to connect accounts from sanctioned Russian banks, effectively bypassing international sanctions. They urged for a more comprehensive approach to monitoring services connected to Russia, including deeper due diligence and open-source intelligence efforts.

Regarding disinformation tactics, Chainalysis experts highlighted Russian state-affiliated media firms funneling millions into U.S.-based entities for propaganda and the use of bot networks on platforms like Twitter to amplify Russian narratives. They also discussed Telegram's role in facilitating illicit communications and transactions, linking it to fundraising for militia groups using cryptocurrency.

With upcoming elections in the US and other countries, the experts stressed the importance of heightened vigilance, citing interference efforts in Moldova and across Europe. They underscored the need for international cooperation in addressing these challenges, noting similar efforts from China and Iran.

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 21 Nov 24
 21 Nov 24
 21 Nov 24