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HomeCryptocurrencyElliptic Sanctioned Wallets Have Millions of Dollars in Crypto

Elliptic Sanctioned Wallets Have Millions of Dollars in Crypto

Elliptic, a company specializing in blockchain analytics and security, is collaborating with law enforcement to identify cryptocurrency wallets associated with banned individuals or groups.

A wallet with significant crypto assets worth millions of dollars has been uncovered by the UK-based business that may be linked to sanctioned Russian authorities and oligarchs.

elliptic-logo-crypto

Elliptic co-founder Tom Robinson said in an interview with Bloomberg on March 14 that the cryptocurrency could be used to evade sanctions. However, it was reported that the likelihood of Russia using crypto assets to evade the imposed sanctions is unlikely.

However, the amount of crypto assets in the uncovered wallet was not specified. According to Robinson, there is still a debate about the size of crypto usage.

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Mehmet S. Kaya
Mehmet S. Kayahttps://teknonel.com
Mehmet is one of the administrator of Teknonel. As a software developer, he loves to share his knowledge in related topics. He is highly familiar with the editorial process from the inception of an article idea, through the iterative process, publishing, and performance analysis as well as product reviews.

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