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Ukraine, the hunt for the cryptocurrency assets of the Russian oligarchs begins

The hunt for the cryptocurrency assets of the Russian oligarchs begins. The blockchain is much less anonymous than you think. International investigators have already seized several wallets of individuals sanctioned for the invasion of Ukraine and are on the trail of others

Cryptocurrencies add to the list of sanctioned Russian oligarch capitals, which international investigators are looking to seize. Digital currencies, based on the blockchain, are in theory anonymous. In reality, however, this is not the case. Starting from the alphanumeric series that make up the wallets, it is possible to track the movements they make. Similarly, it is possible to trace the recipients, provided you know the names associated with the wallets. Furthermore, in the case of transactions involving large amounts, international warning systems are automatically activated and the tools used to mask them are often ineffective, despite the fact that there are expert hackers behind them. Consequently, goodbye anonymity. According to international sources, in fact, after the invasion of Ukraine some assets have already been seized and investigations are at an advanced stage on many others, as Coinbase is doing.

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