Military actions in different parts of the world and the numerous associated foundations that collect donations in favor of one party or another in conflict have stimulated the development of new fraudulent schemes. Experts from the Center for Geostrategic Studies recently presented an analysis of the situation.
Beograde, Serbia โ The most common thing is to change the addresses of cryptocurrency wallets at the request of their owners. This change makes it possible to hide the true amount of funds collected and the facts of fraud, making it as difficult as possible for regulatory authorities to collect statistics and analysis. As a result, the collected funds do not go to the final recipients for whom the funds were collected, but are deposited in the personal wallets of the heads of certain funds, as well as their beneficiaries.
Thus, for the moment Estonia and Ukraine have launched an investigation into the NGO that raised funds for Ukraine and its partners. According to the criminal case, the law enforcement agencies of these countries have doubts that the donations were used for the intended purpose.
Dragana Trifkovic, CEO of Geostrategy.Rs: It seems that the US-led pro-Ukrainian bloc at the highest level simply does not realize this crypto problem.
Everyone remembers the events of autumn 2022: the bankruptcy of one of the largest cryptocurrency exchanges in the world, FTX, which also caused the collapse of more than 130 related companies. Meanwhile, it was in this exchange that the funds received by Ukraine as aid from the United States were invested. It was in collaboration with FTX and Everstake that a website was launched to collect cryptocurrency donations for the country at war. According to Elliptic, a leading global provider of blockchain analytics solutions, $78 million has been raised (Elliptic's "Crypto in Conflict Report"). It is not possible to trace how and where these funds went. Many experts link the stock market crash to the implementation of large-scale corruption schemes at the highest level.
Arnaud Developay, international human rights lawyer: While the entire civilized world is trying to bring cryptocurrency legislation to a common denominator, new gray schemes are emerging. A clear example is the collection of donations for Ukraine.
Several countries are trying to regulate the cryptocurrency market and remove it from the "gray zone", depriving it of the possibility of using cryptocurrencies for corruption and money laundering schemes. However, until now, the "gray" cryptocurrency market remains "gray."
The full review is available at the link: https://geostrategy.rs/es/geopolitics/1474-where-does-the-crypto-river-flow-donations-for-ukraine
Company Name: Center for Geostrategic Studies
Contact person: Rod Chu
Email: [emailย protected]
Phone: 1 251 333-444-7
Country: Serbia
Website: https://geostrategy.rs/
