Federal authorities in Russia are moving forward with a plan to closely monitor cryptocurrency activity for illicit transactions and deanonymize crypto users’ identities. The Russian Federal Financial Monitoring Service, also known as Rosfinmonitoring, has selected a contractor for developing a platform for tracking cryptocurrency activity. According to data from Russia’s state procurement website, the country will allocate 14.7 million rubles ($200,000 USD) from its budget to create a “module for monitoring and analyzing cryptocurrency transactions” using Bitcoin (BTC). According to the official data, the procurement contract was granted to a company referred to as RCO, which is reportedly indirectly backed …
A major financial watchdog in Russia is developing a new cryptocurrency analytics tool to trace major cryptos like Bitcoin (BTC) and privacy coins. Russia’s Federal Financial Monitoring Service, a federal service combating money laundering and terrorist financing, is reportedly planning to build a new analytics platform for tracking cryptocurrency transactions via artificial intelligence. Dubbed “Transparent Blockchain,” the new system is designed to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets, local news agency RBC reported on Aug. 10. According to the report, the new system is able to …
Major antivirus software supplier ESET has discovered a trojanized Tor Browser designed to steal Bitcoin (BTC) from buyers in the darknet. Fake browser distributed via 2 websites Targeting users in Russia, the fake Tor Browser was distributed via two websites and has been stealing crypto from darknet shoppers by swapping the original crypto addresses since 2017, ESET’s editorial division WeLiveSecurity reported Oct. 18. Created back in 2014, the two fake Tor Browser websites — tor-browser[.]org and torproect[.]org — are mimicking the real website of the anonymous browser, torproject.org. According to the Slovakian software security firm, these websites display a message …
Amid Binance halting its services in countries like Israel over licensing matters, the world’s largest cryptocurrency exchange by trading volume continues strengthening relations with Russia. Binance announced Thursday its entry into the Association of Banks of Russia, aiming to facilitate dialogue with local authorities, lawmakers and experts in the cryptocurrency industry. Founded in 1990, the association includes over 300 banks and financial institutions in Russia, covering nearly 90% of the country’s banking infrastructure. The association’s council has approved Binance’s membership in the association, launching a dedicated expert center for digital financial assets and digital currencies. The expert center’s mission is …
A Russian independent news company has raised more than $250,000 in cryptocurrency donations from supporters in order to continue reporting independent news under a barrage of Russian government propaganda and censorship. Meduza, a Latvian-based Russian-language news site that claims to report on “the real Russia, today,” has been asking for donations since April 2021 in the form of United States dollar, euro and cryptocurrencies including Bitcoin (BTC), Ether (ETH), BNB, Tether (USDT), Monero (XMR) and Zcash (ZEC). Since publishing their donations plea, the news company has received around $250,000 in crypto donations through 146,000 individual transactions. Around 93% of the …