Crypto exchanges maintaining operational or financial connections with Russia continue aiding circumvention of international sanctions, according to an Elliptic report.
Summary
- Elliptic says some exchanges help Russia bypass sanctions via crypto.
- Wallet rotation and P2P ruble trades obscure sanctioned flows.
- Shared custody links Exmo global and Russia-facing platforms.
The platforms provide transaction routes allowing Russian entities to make cross-border payments shielded from traditional banking oversight through ruble-to-crypto conversions.
Bitpapa, sanctioned by the U.S. Office of Foreign Assets Control in March 2024, sends approximately 9.7% of outgoing…
