The group was created in 1997 and is known for promoting white supremacy and anti-Semitism. The movement’s bank accounts are blocked by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC).
Considering that, due to restrictions, the group was unable to open traditional traditional deposits, its activities were financed using cryptocurrencies, which the organization announced publicly. Chainalysis analysts found that branches of the Northern Resistance Movement in many European countries, including Norway, Denmark and Finland, accepted donations in BTC, ETH, LTC, ATOM, ADA, as well as stablecoins USDT and the confidential cryptocurrency XMR. Supporters of the neo-Nazi group donated cryptocurrencies through the darknet, centralized exchanges and mining pools. Although specific platforms are not named.
The Chainalysis study comes amid increased scrutiny from international regulators seeking to prevent the misuse of cryptocurrencies. At the end of March, OFAC blacklisted 13 crypto companies for working with sanctioned Russian banks.
Earlier, US Deputy Treasury Secretary Wally Adeyemo reproached cryptocurrency companies for the fact that many are not ready to help the authorities in the fight against the financing of terrorism and money laundering through digital currencies.
Source: Bits
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