As per recent reports, Russia’s Federal Security Service (FSB) and Main Intelligence Directorate (GRU) are leveraging Bitcoin to finance covert operations involving teenagers and untrained spies. The findings expose a shadowy network that spans Europe and Ukraine while raising global security concerns.
According to a joint investigation by Reuters and blockchain analytics firms Global Ledger and Recoveris, Laken Pavan, a Canadian teenager who was recruited via Telegram, received approximately $500 in Bitcoin from an FSB handler to install surveillance cameras and spread propaganda targeting the Polish military. For this practice, the teen is currently sentenced in Poland under espionage charges.
The analysis from the joint consortium traced a $600 million cryptocurrency wallet, which was used to send these payments. The wallet seems to have been created in June 2022 following Russia’s invasion of Ukraine.
Data from Recoveris, a blockchain research firm, further reveals that Bitcoin funds have been used to recruit youths in Poland for acts of vandalism and arson, hire mercenaries in Donbas, and even bribe European politicians.
While the adoption of Bitcoin is ever-increasing, its decentralized and anonymous nature is sparking debate on such illicit uses. This strategy is more actively and increasingly adopted by state actors in recent times.
Also read: Gemini and Coinbase to Tap EU Market With MiCA Licenses
