- Ukraine has blocked a crypto wallet funding the Russian forces.
- SSU has arrested the Russian volunteer.
- It is the first time SSU has blocked crypto wallet funding from the Russian military.
The Security Service of Ukraine (SSU) has blocked a crypto wallet found funding the Russian military forces. The crypto wallet had over $19,500 worth of cryptocurrency. It belonged to a self-proclaimed Russian volunteer.
The SSU has arrested the Russian volunteer who was raising funds to support Russia’s military actions in the country. The arrest was possible due to the evidence provided by the security forces and the support of some foreign crypto companies.
According to the official report, it is the first time that SSU has taken a step in blocking the crypto wallets of Russian citizens who are funding the Russian army.
The press release stated,
These funds have been seized and decision on their tracking and transfer to Ukrainian jurisdiction is pending.
The SSU also mentioned that the Russian volunteer used a major part of the crypto donations to purchase military gear for the separatist fighters of the Luhansk and Donetsk People’s Republic (L/DNR). He used to receive funds through social media campaigns.
The SSU ended the press release with a warning stating,
a similar fate awaits other Russian ‘volunteers’ who sponsor the war in Ukraine.
Russian Ukraine conflict started this year in February. Since the start of the war, both countries are found to rely on crypto donations to aid their military.