Binance Helps To Trace $4.2 Million in Crypto Donations to Russia
CoinEdition
Published Oct 10, 2022 01:16PM ET
Updated Oct 10, 2022 01:30PM ET
Binance Helps To Trace $4.2 Million in Crypto Donations to Russia
- Binance joins concerned authorities to track $4.2 million in crypto donations to Russia.
- Chainalysis found Telegram posts from Rusich, Rybar, and Southfront.
- Researcher said the funds were used to pay for thermal imaging scopes and UAVs.
Binance’s investigations team joins forces with other authorities to track nearly $4.2 million in crypto donations made to Russian militias in Ukraine during the Russia-Ukraine war.
The investigating team at Binance and the cryptocurrency-tracking companies helped trace contributions to the Russian war effort, which frequently started with open posts on the messaging app Telegram asking for crowdsourced money.
Binance CEO Changpeng Zhao retweeted:
Binance mentioned MOO Veche, a pro-Russian “cultural heritage” organization that has organized fundraising events for weapons that resemble those purchased by the organizations, Chainalysis mentioned.
Additionally, Elliptic tracked $1.7 million in cryptocurrency donations to the group, significantly more than the other researchers, even though Binance, TRM Labs, and Elliptic all mention MOO Veche as a significant fundraiser.
Chainalysis researcher, Andrew Fierman concluded the speculation by stating that it’s not like Russia bought new tanks with donations. The funds were instead used to pay for thermal imaging scopes and UAVs.
The post Binance Helps To Trace $4.2 Million in Crypto Donations to Russia appeared first on Coin Edition.
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