Elliptic: 5 Cryptocurrency Exchanges Assist Russia in Evading Sanctions

WuSaidBlockchainW · 2026-02-22T00:22:07+00:00

Blockchain analysis firm Elliptic reports that five Russia-related cryptocurrency exchanges are assisting in circumventing international sanctions. Although several platforms have not yet been listed on sanctions lists, they still provide funding channels for Russia, involving amounts worth billions of dollars.

WuSaidBlockchainW

2026-02-22 00:22:07

Abstract generation in progress

Blockchain analytics firm Elliptic has released a report stating that five cryptocurrency exchanges related to Russia are assisting in circumventing international sanctions, with most not yet listed on sanctions lists. Aside from Bitpapa, which has been sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), platforms such as ABCeX, Exmo, Rapira, and Aifory Pro still provide funding channels for Russia. The report states that ABCeX operates out of the Federation Tower in Moscow and has processed at least $11 billion in crypto transactions; although Exmo claimed to have exited the Russian market in 2022, on-chain data shows it shares custody wallet infrastructure with Exmo me and has approximately $19.5 million in direct transactions with sanctioned entities like Garantex, Grinex, and Chatex. (The Block)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.