The sanctions imposed on Russia as a result of the Russian-Ukrainian war did not leave the crypto sector untouched either. Authorities have called on crypto exchanges to limit the accounts of their Russian users. Thus, the residents of the sanctioned country had to find a new way if they did not want to be left out of the opportunities offered by digital devices.
Those who want to trade with sanctions are looking for accounts used to bypass the rules, with which they can enter crypto exchanges. According to analysts, the demand for such ready-made accounts on the dark web has increased in recent years, as more and more Russian users commit to buying them.
Peter Mareicsev according to a cyber security expert the number of new ads for ready and approved wallets reached 400 in December, allowing people to access various exchanges. However, you should be careful with such accounts. Whoever sold it to the customer runs the risk of accessing it following the sale. However, they are not that expensive, and their supply has doubled on dark web markets since the start of the war.
Older accounts are more expensive
Simple login information such as a username and password can be purchased for as little as $50. For a fully set up account, including the documents used for registration, the potential customer will have to pay $300.
Digital threat analyst Dimitry Bogachev said the wares depend on factors such as the country and date entered during registration, as well as activity history. Accordingly, they charge much more for older accounts.
“Buyers fall into two categories: Russians who have no choice because they need it for their daily work, and those who use it for crime.” – said Sergey Mendeleev, CEO of Indefibank.
The leading crypto exchanges have all complied with financial restrictions imposed in response to the Russian invasion of Ukraine. Last year, the world’s largest crypto-trading platform, Binance, indicated that while it would limit the individuals and organizations that are subject to sanctions, it would not ban all Russian citizens.
However, since late 2022, many Russian Binance users have complained that their accounts were locked without explanation. Affected customers say many experienced weeks of problems, including suspended payments amid protracted audits.