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Russia-Ukraine war: How both sides of the conflict have used crypto to win

While tens of millions worth of crypto were donated to Ukraine in the last year, pro-Kremlin groups have also leveraged digital currencies to buy military supplies and spread propaganda.

In the conflict between Russia and Ukraine, contradictions have been using digital currency to have an advantage.

Pro-Ukrainian work has gradually raised about $200 million from data encryption donations, suggesting that cross-border and unaudited assets are so effective in emergency situations.

But the Russians also used the login password: a recent Chainanalysis report revealed that pro-Kremlin groups and propaganda agencies raised about $5 million during the invasion. This physical line is a small and medium-sized grassroots entrepreneurial organization that uses passwords to circumvent financial sanctions in Western countries.

"what people really care about is some artists. So people in the battlefield, people who try to bring more defense network resources to the battlefield [.] For example, bulletproof vests or drones, "explains McGinnis Firman, head of Chainanalysis ban development strategy and one of the authors of the report.

But these figures do not take into account extortion virus attacks: for example, more than $450 million was paid to such lines last year, according to Chainanalysis statistics, most of which are said to be located in Russia. Some of these organizations, such as the Internet fraud organization Conti, have announced that they apply to the Russian government department of War diligence.

"when it comes to extortion payments, sometimes there is some kind of political agenda behind the behavior of bad artists," Feynman stressed. "

For more information about the harm of data encryption in the conflict in Ukraine and how Russia uses it to promote its work, please refer to the detailed interview on YouTube. Don't forget to subscribe!

by Marco Castrovilli
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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