Russian Man Awaiting Trial for Transferring Crypto
Russian Man Arrested for Allegedly Funding Ukrainian Army Using Cryptocurrency
A Russian man named Alexander Vecherkohas been arrested for supposedly giving cryptocurrencies to the Ukrainian army. The secret service accuses him of making the donations via a third party in Ukraine. It is believed that he donated USDT, a type of cryptocurrency, which the army could have used to buy equipment like night vision goggles and medicine.
The Russian secret service, known as the FSB, sees Vecherko's actions as a betrayal. He's now in Moscow awaiting trial.
This arrest has highlighted the risks of using public cryptocurrencies in situations like the ongoing conflict with Ukraine. It seems Vecherko did not use privacy-focused coins like Monero or ZCash. These types of coins hide transactions to stop them from being tracked. Instead, he likely used a type of coin where transfers are public and can be traced.
Most common cryptocurrencies, like Bitcoin, Ethereum, and Cardano, work in a semi-private way. While the transactions are turned into code, the identities of the people involved can still be uncovered.
