The US Department of Treasury has been contacting cryptocurrency platforms cautioning them about the possibility of cyber-attacks emanating from Russia following Russia’s unprovoked war against Ukraine.
According to a report by Reuters, a person with knowledge of the conversations said following the sanctions leveled against Russia the country may retaliate with cyber attacks.
Cryptocurrency has emerged as a viable path for individuals and corporations to donate to Ukraine as well as NGOs supporting the country as it battles Russia. Tens of millions of dollars in crypto have been donated to Ukraine with more arriving every day.
Meanwhile, many countries around the world have sought to pressure Russia, along with the country’s elites – or oligarchs, to halt the ongoing attacks. The US, UK, EU, and many other western countries have curtailed financial activities or business in general, with Russia. Oligarchs have seen their yachts confiscated with more expected to follow. Expectations are that bank accounts will be frozen too.
Today, the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of State added pressure on Russia by sanctioning numerous Russian elites and their family members, identifying certain property of these persons as blocked, and sanctioning Russian intelligence-directed disinformation outlets.
The government fears that Russian oligarchs continue to support Russian President Vladimir Putin’s criminal invasion of Ukraine.
Treasury said that targeted today as part of their sanctions are three Russian elites, two of their spouses, three of their adult children, six of their companies, one of Russia’s largest privately-owned aircraft, and one of the world’s largest superyachts. These actions were taken in coordination with the EU, UK, Canada, Japan, the ROK, and Australia.
Russia has consistently responded to warnings with bellicosity threatening retaliation with few options beyond military aggression. Crypto hacks, or cyber-attacks of financial institutions or other industries, are an area that Russia may pursue as the country becomes further isolated from the rest of the world.