Darknet offers Russians ways to circumvent cryptocurrency sanctions

Demand for crypto exchange accounts has increased on the darknet, as Russians are buying them en masse. In early October, the European Union tightened sanctions against the killer country regarding cryptocurrency transactions in the eurozone. Companies with a European license were banned from opening accounts and crypto wallets for citizens of the occupying state.

Compared to last year, the number of new ads for the sale of verified wallets in the darknet has doubled. In December 2022, the offer of one «seller» of accounts reached 400 units. The average cost of a login and password for an account is $ 50. For credentials with a QR code for two-factor authentication, a full package of documents for which the account was registered, mail, and cookies on the black market, you will have to pay from $ 300.

Usually, the price depends on the country of registration, the date of account creation (the older the account, the higher the price), and the activity history. As a rule, the «starter package» contains data for logging into the account, backup means for obtaining previously lost access, and Internet phone details for receiving SMS. Interestingly, in addition to Russians with blocked stock exchange accounts, the criminal segment of the occupying country also uses crypto services in the darknet.

Even at the official level, the terrorist state has repeatedly stated that it plans to use cryptocurrencies to circumvent sanctions starting in 2023. Russian Prime Minister Mikhail Mishustin has instructed a number of government agencies to agree on draft laws to regulate the issuance and circulation of digital currencies, as well as their use in international payments.

Official state borders also do not hesitate to seek help from cybercriminals. Coincub experts have found that a large number of ransomware is being developed in Russia. Russian hackers are believed to have created the Conti, REvil, Ryuk, and Netwalker malware. However, neither law enforcement nor the authorities are against such developments, and moreover, the state uses malware against its own citizens and internationally.