The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently imposed sanctions on numerous entities and individuals, aiming to disrupt the Kremlin’s financial resources and access to technology crucial for its actions against Ukraine.
Among the targeted entities is a Russian developer of unmanned aerial vehicles (UAVs) known as the OKO Design Bureau, based in Saint Petersburg.
This company, according to findings by blockchain analytics company Chainalysis, utilized a Telegram channel to request cryptocurrency donations, with three specific addresses linked to it:
– Bitcoin (BTC): 13fhnkmpBBWXUQucJd6efWvXdEj78DKavk
– Ethereum (ETH) and tokens (including USDT): 0x19F8f2B0915Daa12a3f5C9CF01dF9E24D53794F7
– TRON (TRX) and tokens (including USDT): TFdTr9C3BqQrzKBXqSxJfAZFTh8UwBAfSg
Chainalysis researchers found that these addresses were associated with detailed descriptions and videos of OKO Design Bureau’s activities, such as testing UAVs with the Russian Ministry of Defense and deploying them in actions against Ukraine.
Despite the detailed solicitations, the fundraising efforts through cryptocurrency were not notably successful, yielding less than $1,000 in total collections.
Nevertheless, this instance is one of a broader trend where Russian militia groups publicly appeal for crypto donations while disclosing military operations.
Chainalysis revealed that over 50 volunteer groups engaged in crowdfunding for Russian military expenses, disseminating disinformation, and propagating pro-invasion narratives.
By July 2022, these organizations had amassed approximately $2.2 million in cryptocurrency donations, although the current status of this fundraising activity remains uncertain.