Crypto wallet used to raised funds for Russian Forces gets blocked by Ukraine. The Security Service of Ukraine (SBU) has put in place a system to stop cryptocurrency fundraising for the soldiers taking part in the continuing battle in the country on the side of Russia.
The SBU reported the blocking of a crypto wallet controlled by a Russian citizen and used to fund Russia’s military campaign in Ukraine. The wallet holder who portrayed himself as a volunteer, has been collecting funds for the Russian soldiers’ needs. By the time it was blocked, the wallet had acquired $22,000 in cryptocurrency.
Ukrainian investigators were also able to prove that the wallet’s owner had been using a huge portion of the donated cryptocurrency to purchase weapons and equipment for the self-proclaimed Luhansk and Donetsk People’s Republics. The operation had included representatives of Ukraine’s National Police and the Prosecutor General’s Office.
Experts are now analyzing transactions linked to the wallet and will pass custody to Ukraine. The authority did not disclose how it seized the wallet, but it did also say it was assisted by global crypto businesses.
Editor’s Note: This article by The Mega Maxi is not a financial advise.
