EU Sanctions Moldova’s A7 Crypto Platform Over Election Meddling and Sanctions Bypass

Key Points

1. The EU sanctioned A7 and Simeon Boikov for using cryptocurrency to influence elections, with Boikov spreading false pro-Kremlin narratives.

2. A7 issued a ruble-backed stablecoin called A7A5 to evade sanctions, moving $9.3 billion in four months, according to reports.

3. TRM Labs linked A7 to Ilan Shor, a Moldovan oligarch involved in a $1 billion bank fraud scandal, and revealed its use by sanctioned Russian exchange Garantex.

4. Europol dismantled dark web marketplace Archetyp Market, and US law enforcement seized crypto linked to BidenCash, accused of selling stolen credit cards.

5. The crackdown on Russian crypto-financial networks includes sanctions on entities like Aeza Group and seizures of malware-related crypto assets.