Crypto donations for Russian military groups reach almost $20 million, Elliptic says
Nearly two-thirds of pro-Russian crypto funds involve entities sanctioned by the U.S., Elliptic said. Ukraine’s highly publicized crypto donation campaign, meanwhile, has raised at least $212 million.
"Pro-Russian donations have gradually increased their momentum compared to pro-Ukrainian donations," Elliptic said. Entities involved in crypto payment rails include the U.S.-sanctioned Task Force Rusich group of PMC Wagner mercenaries. Elliptic also found that senior officials of the so-called Donetsk People’s Republic have been rewarding defectors and intelligence about Ukrainian military positions with bitcoin.
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