Unraveling Russia's Crypto Sanctions Evasion and Disinformation Campaigns

Russia has become an international force using cryptocurrency for sanctions evasion, ransomware attacks and most recently malign interference in the US elections.

Ian Andrews (CMO, Chainalysis) speaks with colleagues,  Valerie Kennedy (Director of Intelligence Solutions, International) and Andrew Fierman (Head of National Security Intelligence) on the heels of Russia enacting significant legislation changes including legalizing cryptocurrency mining and permitting the use of crypto for international payments.

The trio explore Russia’s utilization of sanctioned crypto platforms like Garantex, the rising use of Telegram for illicit activities and the global implications of their election interference and disruptive tactics across the USA, Europe and beyond.

They highlight that Russia’s affiliated media firms were funneling millions to US-based influencers to spread propaganda, the use of bot networks and the troubling rise of online platforms selling compromised social media accounts.

This is a must listen, as Russia has become the international focus when it comes to geopolitical hotspots. 

Minute-by-minute episode breakdown

2 | Valerie Kennedy’s cyber background and transition into working at a crypto exchange

4 | Is Russia leading the crypto industry in sanctions evasion, elections interference and ransomware attacks? 

6 | Understanding Russia’s secondary sanctions dilemma 

10 | Russian sanctions evasion using crypto and traditional fiat 

14 | Russian media companies bankrolling American influencers to create Pro-Russia propaganda 

20 | The effectiveness of Sanctions against illicit Russian actors in the crypto industry

23 | Russia’s attempt to influence other countries and using spies and crypto to do so

26 | The significant of Telegram Founder getting arrested and the controversial use of the messaging platform

28 | Why are manufacturers of Unmanned Aerial Vehicle (UAV) being sanctioned?

32 | How sanctioned Russian exchange, Garantex is still thriving using stablecoins

35 | Key takeaways for compliance officers navigating Russian connected typologies

 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Chainalysis: The Blockchain Data Platform
• Press Release: Operation Final Exchange: German Federal Criminal Police Office shut down almost 50 crypto  money laundering platforms
• Report: The Chainalysis Malign Interference and Crypto Report
• Blog: Russia’s Cryptocurrency Pivot: Legislated Sanctions Evasion
• Blog: OFAC Sanctions Russian Drone Developer KB Vostok Linked to Ukraine Invasion
• Blog: International Agencies Sanction Russian National Dmitry Yuryevich Khoroshev, Leader of Cybercrime Group LockBit, for Developing and Distributing Ransomware
• Blog: OFAC Sanctions Hydra Following Law Enforcement Shutdown of the Darknet Market, As Well As Russian Exchange Garantex
• News: The Washington Post: Inside Tenet Media, the pro-Trump ‘supergroup’ allegedly funded by Russia
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain

Speakers on today’s episode

• Ian Andrews *Host* (Chief Marketing Officer, Chainalysis) 
• Valerie Kennedy (Director of Intelligence Solutions, International, Chainalysis)
• Andrew Fierman (Head of National Security Intelligence, Chainalysis)

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