A cache of internal documents has shed light on an alleged $8 billion cryptocurrency network linked to Moscow that appears to be used both to evade sanctions and to influence Moldova’s politics. The leak, analyzed by blockchain forensics firm Elliptic, points to a cluster of companies known as A7, reportedly created by fugitive Moldovan businessman Ilan Shor and partly owned by Russia’s state-run Promsvyazbank, which is already under Western restrictions.
Elliptic’s researchers say the A7 structure processes cross-border payments for Russian entities shut out of traditional banking, with some of the funds channeled into digital infrastructure aimed at Moldovan elections. Logs describe apps and bots dispersing payments to activists and running polling operations.
The files also mention A7A5, a ruble-pegged stablecoin registered in Kyrgyzstan that was allegedly built to reduce dependence on U.S.-issued tokens like Tether. Money reportedly moved through Kyrgyz intermediaries, combining cash, promissory notes and crypto transfers to complicate oversight.
Analysts caution that, while the leak reveals a sophisticated mechanism for moving money, attribution remains difficult because wallet ownership and state involvement cannot be conclusively proven.
Still, the disclosures offer regulators fresh leads at a time when Moldova faces accusations of digital vote-buying and Russia leans more heavily on homegrown stablecoins to skirt Western financial controls.
