Russia’s ruble-pegged stablecoin helped evade sanctions to the tune of $100 billion

While Tether’s USDT has become a key asset for Russia to evade Western sanctions imposed after the Ukraine invasion in 2022, transactions with the ruble-pegged stablecoin A7A5 surpassed $100 billion. Elliptic’s Jan. 22 report reveals that as A7A5 is issued on Ethereum and Tron, public blockchains, it was able to monitor that 250,000 transactions that took place among 41,300 wallet addresses in less than one year. The data Elliptic shared shows 35,500 accounts now hold A7A5, an increase from the 14,000 i ...