Cyber experts find cryptocurrency wallets with $ 40 million in cryptocurrency to finance war in Ukraine

The Scamfari platform, which offers rewards for information about cybercriminals, fraudsters, or terrorists, has recorded more than 200,000 requests from 3,500 users in just six weeks of test work. This was reported by Incrypted.

According to the developers, more than 28,500 transactions (17.44%) reported by users were cryptocurrency transactions related to the financing of Russia’s military aggression against Ukraine.

«The rate of false reports ranges from 17−18%. That is, about 82% of all reports from our users were confirmed and forwarded to the relevant authorities for processing. Now we are switching to the online format of the platform to increase the effectiveness at times,» said Scamfari founder Yuriy Olentyr.

Among all the reports of violations, the most frequently reported are

• social media fraud — 44.33%;
• rug pulling — 37.64%;
• russian terrorism financing — 17.44%.

Scamfari has announced the approximate amount of funds that could have been blocked by representatives of the Cyberpolice of Ukraine as part of the financing of Russian terrorism. According to analysts, it reaches $ 40.2 million or 1.5 billion hryvnias.

Thanks to user reports, Scamfari was able to identify crypto wallets of Wagner, Grey Zone, Killnet, Anatoliy Sharii, Mykhailo Zvinchuk, and Boris Rozhyn.

The largest amount of blocked funds is accounted for by Binance accounts — 96%. The three most popular cryptocurrencies for these transactions are: Ethereum — 37%, BNB — 14%, and BTC — 13%.

It is worth noting that Scamfari is a crowdsourcing platform that aims to collect a database of criminal crypto wallets and accounts involved in raising funds for terrorist activities.