Here’s how much crypto-sanctioned Russian media outlet SouthFront has received: Chainalysis

Malicious actors have increasingly used disinformation campaigns linked to cryptocurrencies to disrupt elections, including those in 2020. With global elections in 2024 affecting half of the world’s population, identifying and addressing these campaigns is important to protect the processes democratic interferences.

After analyzing disinformation actors, their tactics and on-chain activity, Chainalysis found that one such outlet is Russia-based SouthFront, which was sanctioned by OFAC in April 2021 for his involvement in foreign interference in the 2020 US presidential election under the Russian government. guidance

SouthFront Disinformation Campaign Funded by $27,000 in Crypto

The Federal Security Service (FSB), a division of Russian intelligence, oversees SouthFront, which targets military enthusiasts, veterans and conspiracy theorists while meticulously hiding its Russian ties.

SouthFront is looking for crypto donations to support its operations. Its official website has outlined guidelines for supporters to send crypto to the organization securely, advising donors to transfer funds directly from personal or non-hosted wallets rather than using intermediary services. This is done to evade detection by crypto exchanges that enforce KYC practices.

Since July 2018 to date, SouthFront has received over $27,000 in crypto, mostly Bitcoin. The organization continues to operate, accepting donations and cashing through the two sanctioned exchanges such as Garantex and the main ones. Their donation page currently reports $1,260 raised since June 1, which covers about 25% of their monthly budget.

In a statement to CryptoPotato, Chainalysis said:

“Running effective malicious interference campaigns requires significant infrastructure. Because cryptography is misperceived as anonymous and untraceable, some malicious actors pay for these technology services with cryptocurrency, hoping to hide their activity.”

Iran’s growing cyber influence operations

Chainalysis said these malign influence operations are not limited to Russia. In recent years, Iran has significantly expanded its cyber influence activities to further its geopolitical goals.

SouthFront partner Islamic World News (ISWN) is a media outlet linked to the Islamic Revolutionary Guard Corps (IRGC). It operates military social media channels, including Telegram, to promote pro-Iranian military and government propaganda.

Both open source research and chain activity suggest a connection between ISWN and SouthFront. The entity seeks donations in BTC, BCH, ETH, XRP, DOGE, SOL, TRX and SHIB. Chainalysis discovered that SouthFront and ISWN transfers to exchanges may suggest efforts to turn the cryptocurrency into fiat currency.

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