Ukraine is exploring more means of thwarting Russia’s onslaught on their country by running after government official’s crypto wallets.
Ukrainian authorities are attempting to stay ahead of crypto-savvy Russian officials who may shift to digital currency in order to evade rising efforts to financially isolate the Kremlin and its allies.
Wars can be waged on numerous fronts, as few stones are left unturned in the pursuit of the most effective techniques for gaining the upper hand.
Ukraine demonstrates resourcefulness in this aspect, as it fights Russia’s recent unprovoked invasion with conventional military techniques.
The country – which is unparalleled in terms of military capacity – is now hellbent on crippling Russian political figures by actively pursuing information about any digital wallets they may possess.
Ukraine Dangles Reward For Crypto Wallets Info
Vice Premier Mykhailo Fedorov announced on Saturday that the Ukrainian crypto community will reward those who give information.
The government has already begun soliciting cryptocurrency donations via social media and has advertised in online hacker forums that it is seeking assistance in defending against cyberattacks.
Federov also indicated that Ukraine is assembling an “IT army.”
Russia’s policy of combating adversaries using digital assets and online means has been in place for a long time, and the Ukrainian hope is that it may be turned around on them in a significant way.
Total crypto market cap at $1.731 trillion | Source: TradingView.com
Sanctions are among the most potent measures available to the United States and its Western allies for influencing the behavior of states they regard as threats.
And in this instance, a bounty for anyone who can provide information about crypto wallets belonging to Russian and Belarusian politicians can be a very effective instrument.
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Bounty To Be Paid By Private Donors
According to Artem Afian, a Ukrainian attorney in charge of the project, the incentives for politicians’ crypto wallet information will be paid by private donations rather than by the Ukrainian government.
Afian did not disclose the total amount raised thus far, but said that donations were made primarily in Ether (ETH), but also in Bitcoin (BTC) and other cryptocurrencies.
Ukraine’s actions demonstrate how cryptocurrencies can cross borders and be used by both those seeking assistance and those attempting to evade the law.
Afian said he intends to publish a list of politicians’ addresses over the next two to three days and distribute it to major cryptocurrency exchanges.
Putin May Not Fall Into The Trap
The primary goal is to flag these addresses as “unsafe” and to deter individuals and businesses from transacting with them.
However, it is unlikely that Russian President Vladimir Putin will fall victim to this dragnet.
According to credible grapevines, Putin is notoriously averse to technology and reportedly does not own a cellphone.
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