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More than a million Russians have fallen victim to cybercrime, resulting in an estimated $3 billion in damages. Cybercrime accounts for 35% of all crimes in Russia and is increasing by 30% annually, outpacing law enforcement efforts. Russia Faces Surge in Cybercrime, With Billions Lost to Fraud More than a million Russians have fallen victim … Read more
A Lockbit ransomware developer has been extradited to the U.S., admitting to coding and consulting for the cybercriminal group, which paid him in cryptocurrency. Lockbit Ransomware Developer Extradited to US in Global Crackdown The U.S. Department of Justice (DOJ) announced on March 14 that Rostislav Panev, a dual Russian and Israeli citizen, has been extradited … Read more
Based on whispers from unnamed insiders quoted by Reuters, Russia is reportedly turning to bitcoin, ether, and stablecoins as tools in its oil trade with China and India. These insiders, described as having “direct knowledge of the matter,” opted to stay in the shadows, citing the delicate nature of the topic. Shadow Claims: Russia Allegedly … Read more
The Bank of Russia introduced a proposal to allow highly qualified investors to purchase and sell crypto under an experimental framework lasting three years. Nonetheless, peer-to-peer transactions and payments would still be banned under this sandbox. Central Bank of Russia Opens up to Crypto With Sandbox Regime Russia is on the verge of opening to … Read more
Russia is keeping cryptocurrency out of its National Wealth Fund, citing volatility and liquidity concerns, but future economic shifts could open the door to digital assets. Russia Keeps Bitcoin Out for Now—Will Economic Shifts Make Crypto Reserves Inevitable? As the U.S. explores the idea of establishing a strategic cryptocurrency reserve, Russia has taken a different … Read more
The U.S. Secret Service, supported by blockchain analytics firm Elliptic, dismantled sanctioned Russian cryptocurrency exchange Garantex and froze $26 million in cryptoassets, authorities announced Friday. U.S. Secret Service, With Elliptic’s Aid, Dismantles Sanctioned Russian Crypto Exchange Garantex Elliptic’s data revealed Garantex executed over $60 billion in transactions since the U.S. and EU imposed sanctions in … Read more
The program, currently in its pilot stages, is part of a test to examine the feasibility of using gold assets for finalizing international exchanges involving Russia. Capital Lab partner Evgeny Shatov stated that digital gold assets can help the nation bypass sanctions and reduce its dependence on the dollar. Russia Is Testing Digital Gold-Based International … Read more
Russia is pushing forward with a regulated cryptocurrency market, limiting access to “super-qualified” investors under a strict legal framework to ensure financial stability and security. Russia’s Crypto Overhaul: Strict New Market May Change Everything The Russian Finance Ministry and central bank are discussing the creation of a regulated cryptocurrency trading market for highly experienced investors, … Read more
The U.S. Secret Service, collaborating with global law enforcement partners, confiscated the website of Garantex, a Russian cryptocurrency platform accused of enabling illegal financial activities. Previously sanctioned by the U.S. and EU for its alleged role in laundering funds, the exchange abruptly halted operations post-seizure and disclosed that Tether had immobilized $28 million in digital … Read more
Tether, the largest stablecoin issuer, has immobilized roughly $28 million in USDT tokens on Garantex, a cryptocurrency platform based in Russia. This measure corresponds with the European Union’s sanctions against Garantex, which allege ties to Russian governmental entities and illicit networks, particularly amid Russia’s military operations in Ukraine. Garantex Warns Users: ‘All USDT in Russian … Read more