Crypto war: Ukraine and US chasing bitcoin from Russians

The war between Ukraine and Russia continues. In addition to the physical dimension of the war, there is also a battle going on on the digital front. Russian intelligence services are digitally very diligent, also when it comes to crypto activity. The Internal Revenue Service (IRS), the US tax authority, will from now on train Ukrainian authorities together with analysis firm Chainalaysis to counter Russian crypto activity.

Ukrainians are trained

This was announced in an announcement by the IRS on Thursday. One of the problems is the use of crypto by Russian oligarchs. These use crypto transactions to circumvent certain imposed sanctions. The IRS, along with Chainalysis, is donating blockchain analysis resources to the Ukrainian authorities.

A training session was also held with 50 Ukrainian employees. One-on-one training sessions will take place in the future.

“These trainings help participants improve their digital investigative skills to trace the source of blockchain transactions and uncover other information. Sharing resources not only helps the financial system of the United States, but the entire world.”

Crypto plays a big role

As mentioned, crypto plays a major role in the military conflict between Russia and Ukraine. For example, it is used for the above-mentioned circumvention of sanctions, but also for financing the war and for humanitarian purposes. According to the National Police of Ukraine, the cooperation comes at a good time.

“We often see crypto collections because Russia believes in circumventing sanctions using crypto assets. The training comes at an excellent time and provides a strong impetus for even more effective work by the cyber police in this area.”

According to Yurii Vykhodets of the cyber division of the Ukrainian police. However, there seems to be no end to the conflict, both sides seem to want to go to extremes, both on the ground and in the digital world. Eduard Fedorov, director of the Economic Security Bureau of Ukraine emphasizes: “We resist the aggressor not only on the battlefield, but also on the economic front.”

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