Russia has become an international force using cryptocurrency for sanctions evasion, ransomware attacks and most recently malign interference in the US elections. Ian Andrews (CMO, Chainalysis) speaks with colleagues, Valerie Kennedy (Director of Intelligence Solutions, International) and Andrew Fierman (Head of National Security Intelligence) on the heels of Russia enacting significant legislation changes including legalizing cryptocurrency mining and permitting the use of crypto for international payments. The trio explore Russia’s utilization of sanctioned crypto platforms like Garantex, the rising use of Telegram for illicit activities and the global implications of their election interference and disruptive tactics across the USA, Europe and beyond. They highlight that Russia’s affiliated media firms were funneling millions to US-based influencers to spread propaganda, the use of bot networks and the troubling rise of online platforms selling compromised social media accounts. This is a must listen, as Russia has become the international focus when it comes to geopolitical hotspots. Minute-by-minute episode breakdown 2 | Valerie Kennedy’s cyber background and transition into working at a crypto exchange 4 | Is Russia leading the crypto industry in sanctions evasion, elections interference and ransomware attacks? 6 | Understanding Russia’s secondary sanctions dilemma 10 | Russian sanctions evasion using crypto and traditional fiat 14 | Russian media companies bankrolling American influencers to create Pro-Russia propaganda 20 | The effectiveness of Sanctions against illicit Russian actors in the crypto industry 23 | Russia’s attempt to influence other countries and using spies and crypto to do so 26 | The significant of Telegram Founder getting arrested and the controversial use of the messaging platform 28 | Why are manufacturers of Unmanned Aerial Vehicle (UAV) being sanctioned? 32 | How sanctioned Russian exchange, Garantex is still thriving using stablecoins 35 | Key takeaways for compliance officers navigating Russian connected typologies Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Website: Chainalysis: The Blockchain Data Platform Press Release: Operation Final Exchange: German Federal Criminal Police Office shut down almost 50 crypto money laundering platforms Report: The Chainalysis Malign Interference and Crypto Report Blog: Russia’s Cryptocurrency Pivot: Legislated Sanctions Evasion Blog: OFAC Sanctions Russian Drone Developer KB Vostok Linked to Ukraine Invasion Blog: International Agencies Sanction Russian National Dmitry Yuryevich Khoroshev, Leader of Cybercrime Group LockBit, for Developing and Distributing Ransomware Blog: OFAC Sanctions Hydra Following Law Enforcement Shutdown of the Darknet Market, As Well As Russian Exchange Garantex News: The Washington Post: Inside Tenet Media, the pro-Trump ‘supergroup’ allegedly funded by Russia YouTube: Chainalysis YouTube page Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today’s episode Ian Andrews *Host* (Chief Marketing Officer, Chainalysis) Valerie Kennedy (Director of Intelligence Solutions, International, Chainalysis) Andrew Fierman (Head of National Security Intelligence, Chainalysis) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
