Wallets of Russian Users Are Blocked before A War Situation

Russia and Ukraine are waging war fully by air, land, sea, and cyberspace, which is the first time in war history where many international digital groups emerged in support of the Aktien Pros.

Hiding behind the mask of Anonymous or without it, they have proposed to alter and sabotage Russian points such as weapons factories and railways, awakening the best-known leaders of Russian cybercrime on the other side.

All this has caught the interest of many eyes, and the crypto world is one of them, taking radical measures as a means of pressure and support for Ukraine and the eradication of illicit businesses.

One of the best-known exchange platform for cryptocurrencies, such as Coinbase, blocked more than 25 thousand virtual wallet addresses belonging to Russian users.

Being these considered malignant for participating and operating in illicit activities, they represent 0.2% of the 11.4 million users who use and carry out transactions during the month.

These activities have been identified through previous and very professional studies and investigations.

This blockade is very specifically determined to citizens who are sanctioned for having direct links with illicit activities and linked to the regime of Vladimir Putin.

Other recognized platforms, such as Coinbase and Binance, are the most influential in the United States in cryptocurrency exchange, which complied with President Biden’s mandate and applied it only to people who have sanctions.

Scoop released by the Bloomberg portal, where it is specified that the US government will meet with managers of the most influential Exchange in the world to ask for your contribution and support through the department of the White House Security Council and the Treasury Department in this regard.

The Deputy Prime Minister of Ukraine, MykhailoFedorov, subsequently requested the cryptocurrency exchanges to block all Russian users who had investments with them.

Exchange reused to this request

The Kraken platform did not comply with the order to freeze Russian investors’ crypto assets because cryptocurrencies should focus more on individualism than on nationalistic agreements and pacts of a country.

Coinbase believes that it is not fair to block all Russians, indicating that many private Russians use cryptocurrencies as an alternative for financial growth against the collapse and devaluation of their currency.

Coinbase also detailed and clarified, being very consistent, that cryptocurrencies in the United States must also be subject to the law.

It is believed that it is not risky for Russian oligarchs to use cryptocurrency to escape sanctions because all cryptocurrency transactions are even more traceable than gold, cash dollars, or laundering money artwork.

Several experts in the cryptographic world have not been receptive to this blocking order because they have a nationality from a country that is in a war conflict.

Many high-ranking US government figures cataloged and criticized the cryptocurrency markets, calling them libertarian, witnessing the contempt of some cryptocurrency exchanges that did not block transactions in Russia for their libertarian belief and current.

Russia has its virtual defense arsenal, which in the face of such a blockade, did not take long to make itself felt, showing its potential and response to these measures.

Russian cybercrime chaos groups

One of the most dangerous and chaotic cybercrime organizations is Conti, specializing in ransom ware or information hijacking; it is a computer assault that disables the systematized files of what is considered an enemy and demands a ransom to be returned.

Its most potent harmful tool is Ryuk; this computer virus has killed a variety of organizations and public institutions in Spain during the past years.

Since the war began, cyber security experts see how these attacks have become commonplace, which was unusual before the war, especially among ransom ware groups.

These organizations are very efficient and professional and offer and sell these attacks as a service to those who can pay for them and are presumed to direct and operate from Russian geographical areas.

Conclusion

These war conflicts and sanctions only affect the least involved and guilty in all these actions, who are the entrepreneurial investors who fight every day to grow their businesses and ideas of personal and financial growth. These people only want to work to contribute to a better society and opt for a better quality of life.

The blocking of addresses is a measure of pressure, but at the same time, it is a delay for many.

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