News
Crypto in conflict – DL News
With the history of money and war so inextricably linked, it is no surprise that contemporary conflicts are also closely tied to a very contemporary form of money: cryptocurrency.
THE Chapter on Conflicting Cryptography from the latest DL Research report, The state of digital assets in Europeexamines the impact of cryptocurrency on conflict zones, illustrating how digital assets are used for crisis management, illicit activities, and as a means of escaping economic crises.
From Ukraine to Palestine, Iraq to North Korea, cryptocurrencies have been both a bane and a blessing for countries embroiled in conflicts – directly or covertly – among themselves and with powerful non-state actors, including terrorist groups and organized crime groups.
Another level of conflict exists between financial authorities and governments, against their own citizens. Financial crises can lead to violence, when law enforcement forces band together in front of a bank to prevent customers from accessing their money. In these scenarios, cryptocurrency has also played a significant role.
This chapter features an interview with Yevhenii Panchenko, head of operational analysis at the Cyber Police Department of the National Police of Ukraine. Panchenko recounts his experiences since the Russian invasion of Ukraine and describes his department’s vigilant efforts to protect legitimate crypto transactions while intercepting illicit activity.
DL Research is part of the Llama Corp portfolio, which includes DL News, the award-winning cryptocurrency and decentralized finance news site, and data analytics platform DefiLlama. Contact us today to learn more about our upcoming publications and collaboration opportunities.