Thursday, November 30, 2023

The Ukrainian government wants Russians to be subjected to a broad crypto crackdown.

Amidst skirmishes and bombings by Russia, the Ukrainian government called for a crackdown on all crypto user activity in that country. Ukraine’s Vice PM Mykhailo Fedorov made a statement on Twitter calling for a block of all Russian user addresses by all crypto exchanges.

Fedorov had earlier sought information on digital wallets held by Russian politicians. According to him, the crypto community in his country was ready to pay handsomely for information provided.

This reward is available to anyone who comes forward with the requested details.

Ukraine had requested donations to fight the war, and these came pouring in via crypto. Ukraine also posted in many online forums where hackers are active. The country wants help to protect its digital infrastructure against attacks in cyber space. While it was not clear if the exchanges would respond to his call, Fedorov got word that many CEOs have publicly stated their support for his country.

On February 27th, a verified handle on Twitter (associated with Binance) announced that Binance is donating $10 million to help Ukraine. This money is for mitigating the humanitarian crisis. A charity foundation set up by Binance also started a fund for emergency relief in Ukraine.

An email from Binance said that the exchange would not freeze innocent user accounts unilaterally because it is contrary to the reasons for crypto existence. The platform did promise to take the necessary steps to ensure that actions will be taken enforce levied sanctions. This, while minimizing the impact on users who have no part to play in the war. If the international community imposes stronger sanctions, those will be applied as needed.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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