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Most Russian, Ukrainian Crypto Is Sent Abroad
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cryptonews.comThe vast majority of all Russian and Ukrainian crypto transactions are sent to overseas platforms – and tokens are ending up in Western Europe, East Asia and North America, a new report has found.
These were the findings of the latest Geography of Cryptocurrency Report published by the New York-based blockchain analysis firm Chainalysis.
The data shows that some 86% of all cryptocurrencies sent from addresses in Russia and 87% of cryptocurrencies sent from Ukraine ended up at overseas addresses in the period July 2020 to June 2021. Only Turkey-based crypto investors sent more crypto to overseas addresses – with 92% of their crypto transfers made to non-Turkish addresses.
In May 2021 alone, almost USD 8bn worth of crypto was transferred out of
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