Public Key Podcast

[CHAINALYSIS PODCAST EPISODE 23] How Pro-Russian Groups In Ukraine Are Soliciting Cryptocurrency Donations

Episode 23 of Public Key, the Chainalysis podcast, is here! In this episode, we talk with Andrew Fierman, Head of Sanctions Strategy at Chainalysis about the recent OFAC designations of Pro-Russia groups operating in Ukraine and their cryptocurrency fundraising efforts. 

You can listen or subscribe now on Spotify, Apple, or Audible. Keep reading for a full preview of episode 23.

Public Key Episode 23: What can $2 million in crypto buy for Russian paramilitary groups? 

Following OFAC’s sanctions designation against Task Force Rusich, a Russian paramilitary organization operating in Ukraine, Chainalysis Head of Sanctions Strategy Andrew Fierman joins our host Ian Andrews (CMO at Chainalysis) to discuss what led up this action and how these groups solicit and spend cryptocurrency donations. 

Quote of the episode

“We have a very clear image that’s being highlighted on social media. We’re not just talking about some thinly veiled reports where they’re posting an address here or there, or we have to go down some forum rabbit hole to find some information. These guys are very openly, publicly showing off, hey we need “x” amount of money for purchasing these military items or your recent  investment in our cause has helped us purchase these items.” – Andrew Fierman (Collections Strategy Manager, Chainalysis)

Minute-by-minute episode breakdown

  • (2:03) – Open Source war and the emergence of social media war propaganda 
  • (3:45) – How Pro-Russia groups are using cryptocurrency to fund the invasion in Ukraine
  • (5:20) – Rusich Task Force, Southfront and the history of Pro-Russia militia groups
  • (8:25) – What are Pro-Russia groups using crypto to buy?
  • (11:25) –The role that cryptocurrency and social media is being used to fund the War in Ukraine
  • (14:25) – What is Terricon and how are they using NFTs to raise war related funds 
  • (17:25) – How blockchain analytics are assisting OFAC and law enforcement to curtail Pro-Russian groups furthering war efforts 

Related resources

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

  • Blog: $2 Million and Counting: How Dozens of Pro-Russian Groups Are Using Cryptocurrency Donations to Fund the War in Ukraine
  • Press Release Treasury Targets Additional Facilitators of Russia’s Aggression in Ukraine
  • Blog: The 2022 Global Crypto Adoption Index: Emerging Markets Lead in Grassroots Adoption, China Remains Active Despite Ban, and Crypto Fundamentals Appear Healthy
  • Report: The Chainalysis 2022 Crypto Crime Report

Speakers on today’s episode

  • Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)
  • Andrew Fierman (Head of Sanctions Strategy, Chainalysis)

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