Russian Oligarchs are the current topic of conversation when it comes to using cryptocurrency to evade significant sanctions imposed and adopted by global leaders. Could cryptocurrency be the way that illicit actors move their fortunes out of Russia without access to the SWIFT network?
Host, Ian Andrews, CMO at Chainalysis sits down for the inaugural Chainalysis podcast series with colleagues, Kim Grauer, (Director of Research, Chainalysis) and Salman Banaei (Co-head of Policy, Chainalysis) and discuss the potential for Russia to evade sanctions with cryptocurrency and the relation to Russia and the increase of ransomware in the industry. This panel uses a wealth of Chainalysis data highlighted in the 2022 Crypto Crime report to shed some light on Moscow City as a hub for illicit activity and provides a detailed breakdown of the infrastructure connecting Russia to notorious ransomware organizations. The transparency of the blockchain is highlighted in the infamous ransomware attack on American soil and policy discussions highlight Russia’s move away from the USA dollar and the role the digital Yuan plays in the China / Russia relationship. The audience is in for some real life scenarios of the blockchain being compared to traditional bank robberies and the conversation finishes discussing Chainalysis recent announcement of “on-chain” sanctions oracles and API’s to provide transaction monitoring of sanctioned parties to DeFi and beyond.
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