HomeAltcoinSeized cryptocurrency intended to support Russian forces.

Seized cryptocurrency intended to support Russian forces.

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According to a news statement, the Security Service of Ukraine (SSU) claimed to have taken $19,500 from a bitcoin wallet that was being used to support a Russian organization.

According to reports, the agency has put in place a system to recognize and ban wallets that are used to raise money for the Russian military. A Russian collaborator who was purportedly in possession of the money in a wallet meant for the Russian military was detained as a result of intelligence collection. According to reports, the person raised the money by using social media campaigns to enlist the support of Russian fans.

The money was used to buy weapons for rebel fighters in the Luhansk and Donetsk areas, according to further inquiry. The security service declared it will keep looking for Russian accomplices who assist in funding the ongoing war against Ukraine.

54 groups in Russia got more than $2.2 million to support their activities, according to Chainalysis. Social network appeals for donations are used to raise these cash. The majority of the money was used by pro-Russian organizations to purchase drones, weapons, body armor, and communication equipment.

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