Share this article
US Treasury Sanctions Russian Paramilitary Group Crowdfunding Ukraine War With Crypto
“Task Force Rusich” raised thousands of dollars in crypto to resupply soldiers fighting in Ukraine.
Updated May 11, 2023, 6:37 p.m. Published Sep 15, 2022, 4:05 p.m.
The U.S. Treasury Department added five crypto addresses to its sanctions blacklist Thursday, all tied to a Russian entity dubbed “Task Force Rusich.”
The addresses – two bitcoin, two ether and one tether – saw thousands of dollars in crypto flow through, sometimes to exchanges such as Binance and KuCoin, according to data from Nansen. Some of the addresses have been active as recently as this week.
STORY CONTINUES BELOW
Telegram records indicate that at least four of the addresses are linked to a military hardware crowdfunding campaign to help resupply pro-Russian troops that retreated during Ukraine's offensive in the northeast. The units took heavy casualties during their retreat, one of the posts said.
The sanctions were part of a broader list of additions to the Office of Foreign Assets Control (OFAC)’s Specially Designated Nationals (SDN) list tied to Russia’s ongoing invasion of Ukraine.
The tether address is tied to USDT issued on the Tron blockchain.
According to the Treasury Department, Task Force Rusich is a “neo-Nazi paramilitary group” that has been in combat in Ukraine.
“In 2015, Rusich mercenaries were accused of, and filmed, committing atrocities against deceased and captured Ukrainian soldiers. Rusich is associated with OFAC-designated groups Private Military Company Wagner and Interregional Social Organization Union of Donbas Volunteers,” Treasury said in a press release.
Treasury also sanctioned a number of other individuals tied to Russia’s invasion.
Read more: Binance Froze Russian Gun Maker's Crypto Assets, Amid Ukrainian Pressure
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
December FOMC minutes show the Fed is worried short-term funding could seize up
Fed officials were focused less on rate moves and more on whether the financial system has enough cash to avoid sudden disruptions.
What to know:
- Fed officials have grown increasingly focused on whether the financial system has sufficient cash to function smoothly, even if interest rates remain steady.
- The December FOMC minutes show concern that short-term funding stress can emerge quietly and trigger sudden volatility.
- The minutes outline steps aimed at preventing cash shortages before seasonal pressures intensify in early 2026.
Top Stories
