Elliptic flags Russia-linked crypto platforms’ ongoing sanctions evasion

Bitpapa, Garantex and ABCeX were among the cryptocurrency exchanges linked to Russian-tied transactions circumventing Western evasions. What to know : Several Russian-linked crypto exchanges are still facilitating transactions for sanctioned entities, enabling users to move funds outside traditional banking channels, Elliptic said in a new report. The report highlights platforms such as Bitpapa, ABCeX, Rapira and Aifory Pro, which collectively have processed billions of dollars in crypto, including significant flows to already sanctioned exchanges like Garantex and Aifory Pro. The findings, which follow similar warnings from TRM Labs about surging illicit stablecoin use tied to Russia, underscore how crypto infrastructure continues to support sanctions evasion despite heightened regulatory scrutiny.