UK Sanctions Target Crypto Platforms Linked to Russian Entities
- The UK government sanctioned three cryptocurrency exchanges and two payment platforms for aiding Russian entities in evading financial sanctions.
- Sanctioned platforms include Cryptomus, Heleket, and TokenSpot, with ties to the Kremlin-backed A7 network.
- The A7 network reportedly moved over $90 billion last year, nearly half of Russia’s military expenditure.
- Chainalysis identified that Cryptomus and Heleket received funds from up to 900 illicit counterparties within a month in late 2025.
- TokenSpot, along with Grinex and Meer, received over $308 million from a single deposit address linked to HTX.
These sanctions aim to disrupt financial flows supporting Russia’s military activities by targeting service providers facilitating transactions with sanctioned entities. The actions reflect ongoing efforts to enforce compliance against financial networks aiding illicit operations.
The UK has now cut off multiple platforms involved in significant transactions, including the A7 network’s processing of $110 billion in stablecoin transactions before June. (Source)
