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Ukraine Blocks Crypto Wallet Used to Raise Funds for Russian Forces
24.8.2022
The law enforcement and counter-intelligence agency of Ukraine has managed to seize the funds in a cryptocurrency wallet used to finance the Russian military campaign in the country. Officials in Kyiv claim that money collected through the wallet has been spent on military equipment for...
Russian Caught Mining Crypto in Covid-19 Clinic
22.8.2022
An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto...
Moscow Exchange Prepares to List Digital Financial Assets by Year End
21.8.2022
Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital...
Leading Japanese Online Broker SBI to Pull Out of Russia’s Crypto Mining Sector
21.8.2022
SBI Holdings, the largest online brokerage in Japan, is shutting down its crypto mining business in the Russian Federation. Amid mounting uncertainty over the future of such investments due to the ongoing conflict in Ukraine, as well as decreased mining profits, the financial firm said it plans...
Russian Hospital Employee ‘Mined Crypto in a COVID-19 Ward’; SBI Crypto to Halt Mining in Russia
19.8.2022
A Russian medical specialist could face up to two years behind bars after authorities caught him allegedly running an illegal mining setup in a facility designed to treat coronavirus patients.
The specialist had been placed in charge of information security at a state-run hospital...
Russian Accused of Laundering Cryptocurrency From Ransomware Attacks Extradited to US
18.8.2022
A Russian national suspected of laundering ransomware payments in cryptocurrency on behalf of cybercriminals targeting hospitals has been extradited to the U.S. by the Netherlands. The man was allegedly involved in the criminal activity for a period of three years before his arrest in Amsterdam...
Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds
18.8.2022
Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts...
Russian Bitcoin Miners ‘Used 1.25GW’ to Power Their Rigs Last Year, Double the 2020 Total – Report
17.8.2022
Russian bitcoin (BTC) miners reportedly used a whopping 1.25 gigawatts (GW) of electrical power to fuel their activities in 2021, almost double their total for 2020 – as the industry continues to expand in the nation.
Per Novie Izvetiya, Intelion Data Systems experts calculated that altcoin mining...
Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’
17.8.2022
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP)...
Russian Banks to ‘Start Handling Digital Ruble by 2024’
16.8.2022
A Russian central bank digital currency (CBDC) could be around the corner, with commercial banks in the country now being told by the central bank to prepare to handle a digital ruble within the next two years.
According to a document dated August 11 and issued by the Bank of Russia –...
Bank of Russia Aims for Full Launch of Digital Ruble in 2024
14.8.2022
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary...
Crypto Exchange BTC-e Operator Vinnik Reportedly Denied Bail in US, Maintains Innocence
14.8.2022
Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading...
Alleged BTC-e Operator Alexander Vinnik in US Custody After Immediate Extradition From Greece
6.8.2022
Russian IT specialist Alexander Vinnik, accused of owning and running the infamous crypto exchange BTC-e, has been handed over to the U.S. This week, Greek authorities proceeded with the extradition, after his return from France, despite Vinnik’s defense protesting the move and calling...
Vinnik to Be ‘Hostage’ in US Amid Russia’s War in Ukraine, Greek Lawyer Says
1.8.2022
If extradited to the United States, crypto exchange BTC-e’s alleged operator Alexander Vinnik will become a “hostage” due to the ongoing conflict in Ukraine, according to his Greek lawyer. France is likely to send the Russian back to Greece soon and Zoe Konstantopoulou...
Chainalysis Report Says $2.2 Million in Crypto Has Been Sent to Pro-Russian Groups in Ukraine
29.7.2022
According to a report stemming from the blockchain intelligence company Chainalysis, the firm identified 54 pro-Russian groups that have “collectively received over $2.2 million worth of cryptocurrency.” The paramilitary groups in Ukraine primarily received bitcoin and ether donations...
Pro-Russian groups raised only 4% of crypto donations sent to Ukraine
29.7.2022
“While significant, the $2.2M worth of crypto donated to pro-Russian orgs still pales in comparison to the tens of millions in crypto donated to Ukraine,” said Chainalysis
Moscow, Karelia, Irkutsk — Study Lists Most Popular Crypto Mining Destinations in Russia
27.7.2022
Russia could be a large player in the crypto mining space, experts in the field have established in research naming the most attractive regions for coin minting operations in the country. The capital Moscow is among the popular mining destinations alongside the places offering the cheapest power....
Russia Gears Up to Regulate NFTs Through Legislative Amendments
27.7.2022
Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country’s market for non-fungible tokens, or NFTs. A working group has discussed the matter and proposed solutions to legally define and regulate transactions with the digital...
Latvian Artist Threatened With Prison for Money Laundering Through NFTs
26.7.2022
An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs...
Chess Robot Breaks Seven Year Old's Finger, Tourney Official Blames Kid
25.7.2022
Last week a child was playing chess against a robot when, in the words of one official, something “of course bad” happened. According to Russian media reports and a video of the incident, the robot pinched the seven-year-old’s finger and fractured it. Not great!Read more