Russians offer ready-made crypto exchange accounts amid sanctions
More and more ready-to-use accounts for cryptocurrency exchanges are being offered to Russian residents and this is not a new phenomenon to which feedback is being given. Such accounts are often employed by fraudsters and money researchers and the supply held the existing individual responsible for a ban imposed by the trading platform on a customer from Russia and held in Ukraine as a result of non-compliance with the wartime embargo.
Kommersant points out that Russian residents are using and purchasing these accounts knowing they are at risk and that the risks involved and that whoever created them may maintain access after the sale But it’s cheap and since the beginning of 2022 all kinds of offers on the darknet market have doubled and one of Kaspersky Digital Footprint Intelligence’s Nikolai Chursin of Positive Technology’s Information Virtualization Security Threat Analysis Group told Business Daily. The number of latest ads for wallets created and verified on different exchanges in December has reached 400, according to analyst Peter Marchev. The Know Your Customer process has also revealed certain fraudulent documents that were issued under the proposal and the newspaper revealed in an article last month that simple login data, usernames and passwords could certainly cost is around $50 and for a fully set up account that includes the documentation it was registered with, the buyer is paid an average of $300. Dmitry Bogachev of digital threat analysis firm Jet Info systems explains that the price depends on a variety of factors including country and date of registration as well as activity history and older accounts tend to be more expensive.
Sergey Mendeleev, CEO of Defi banking platform Indefibank, points out that there are two categories of buyers, the first being people who have no other option as they need accounts for work in Delhi and Others who use these accounts for criminal purposes. Igor Sergeenko, director of development for cyber security services provider RTK Solar, believes that in recent months the demand for blocking Russian accounts or making withdrawals from Russian bank cards through crypto exchanges has increased substantially. Major Digital Assets Exchange Literature Major crypto service providers have followed financial sanctions introduced by the West in response to Russia’s invasion of Ukraine. Last year, the world’s largest crypto trading platform, Binance indicated that it was not banning all Russian individuals while banning approved individuals and entities.
Since the end of 2022, the largest crypto exchange reported a variety of Russian users with their accounts blocked without any explanation, as published by Forklog. Affected customers said they had been experiencing problems for several weeks, including suspension of withdrawals between checks for a long time, and the company told crypto news outlets that in Eastern Europe and the Commonwealth of Independent States The blocking of users was related to the case of seized crypto exchange Bitzlato.