Russia-Linked Shadow Exchange Network Identified; ABCeX Processed at Least $11B

A shadow network of Russia-linked exchanges enables sanctions evasion via crypto, Elliptic reports. The firm identified five platforms: ABCeX, Exmo, Rapira, Bitpapa, and Aifory Pro. ABCeX processed at least $11 billion, while Rapira has been linked to over $72 million in transactions with sanctioned exchange Grinex.