Written by 4:35 pm Cryptocurrency

Middle East Media Research Institute (MEMRI) Releases Major Report About Russian Neo-Nazi Groups’ Use Of Cryptocurrency To Fund Ukraine War Activity

WASHINGTON, DC / ACCESSWIRE / November 16, 2022 / The Middle East Media Research Institute (MEMRI) has published a major report, “Russian Neo-Nazi Groups Are Using Cryptocurrency To Help Fund Ukraine War Activity, As U.S. Government Acts Against Them – Heralding A New Era Of Industry Regulations,” as part of the MEMRI Domestic Terrorism Threat Monitor (DTTM), Cyber & Jihad Lab (CJL), and Russian Media Studies Project (RMSP) projects.

Report authors MEMRI Executive Director Steven Stalinsky, Lead Editor R. Sosnow, and Research Fellow A. Strandberg detail how “recent events are proving that the Russia-Ukraine war – a major conflict in which cryptocurrency plays a significant role – could usher in serious government regulation of cryptocurrency.”

This report follows MEMRI’s landmark study published earlier this year about neo-Nazi and white supremacist use of cryptocurrency: “The Eye Of The Storm: [Domestic] Terrorists Using Cryptocurrency – Part II – Following In Jihadis’ Footsteps, Neo-Nazis Turn To Cryptocurrency” by Mr. Stalinsky, R. Sosnow, and the Domestic Terrorism Threat Monitor (DTTM) team.

Expanding upon research from the earlier study, the new report notes: “As stated in our major May 2022 study on this issue, the war is ‘highlighting the extent to which neo-Nazis and white supremacists have migrated to cryptocurrency. The use of cyber finance in the war has already gotten the attention of government leaders involved in financial regulation, and it has been a subject of increased discussion. But knowledge of how extremists are using cryptocurrency in the war, as it develops, will very likely prove to be a catalyst for regulations for the crypto industry, which has been a topic of debate for some time.'”

The report’s authors conclude that more action is needed to address the threat of illicit cryptocurrency use: “The Russia-Ukraine war will be remembered as the first conflict in which cryptocurrency played a major role; others will surely follow… Divisions and projects have been established to tackle the threat of terrorist and other illicit cryptocurrency use the White House, FBI, Departments of Justice, and Treasury, and others in the U.S. government as well as in U.S. ally countries, and there is now a major focus on it. Much more is needed, however, to tackle this emerging threat.”

Additional MEMRI Report On Russian Neo-Nazi Groups’ Use Of Cryptocurrency

MEMRI Daily Brief No. 385 – Neo-Nazi Use Of Cryptocurrency In The Russia-Ukraine War May Be Catalyst Prompting Government Regulation – 05/26/22

About The MEMRI Domestic Terrorism Threat Monitor (DTTM)

The MEMRI Domestic Terrorism Threat Monitor (DTTM) scrutinizes the online activity of neo-Nazi and white supremacist groups and individuals who are circulating hateful and antisemitic content, with a focus on incitement, calls to action, and violent threats against Jewish organizations and institutions, Black people, people of color, the LGBTQ+ community, political and other prominent figures, government officials and agencies, and the public at large, in the U.S. and around the world. It publishes reports about these groups’ and individuals’ online activities, including reviews of accounts of individuals involved in producing or consuming this content.

About The MEMRI Cyber & Jihad Lab (CJL)

The MEMRI Cyber & Jihad Lab (CJL) monitors, tracks, translates, and researches jihadi, secular, and other types of hacktivist groups and activity emanating from the Middle East, Iran, and South Asia, and studies jihadis on social media and online, with a focus on their use of encryption and other technologies. It works with tech companies to help come up with solutions for dealing with jihadis and terrorists online, and with legislatures to help develop laws for tackling this phenomenon. It also assists the business community in matters of cyberattacks and cyber threats from these sources.

About The MEMRI Russian Media Studies Project (RMSP)

The MEMRI Russian Media Studies Project (RMSP) publishes up-to-the-minute translations and analyses of Russian media. The RMSP, launched in 2016, publishes its analyses and translations from Russian into English and other languages, along with its analyses and translations from Arabic, Farsi, Turkish, Urdu, and Pashto, in order to inform media, academia, legislatures, governments, and the public at large. Over the last six years, the MEMRI RMSP has monitored, 24/7, topics including Russia’s foreign and domestic policy: Russia-U.S. relations, anti-U.S. indoctrination, cyber war, the rising U.S.-Russia military tensions, Russia-China relations, Russia-Turkey relations, Russia-Iran relations, Russia-NATO relations, the Russia-U.S.-NATO clash over Ukraine, Russia’s intervention in Syria, Russia’s geopolitical interests, Russia’s influence in Europe and its potential allies, Russia’s return to the developing world including Latin America, Russia’s vision of the post-coronavirus world, Russia’s rivalry with the U.S. in the former Soviet republics and in the Arctic, and energy and arms shipments as force multipliers of Russian diplomacy.

The MEMRI Russian Media Studies Project offers a free subscription to translations and analyses of statements and trends in Russian politics, diplomacy, think tanks, military, and media.

MEMRI research and translation efforts on identifying jihadi and hacktivist activity have provided crucial resources to educate policymakers, media organizations, the public, and others. MEMRI asks for your help to continue this important work through tax-deductible donations.


Exploring the Middle East and South Asia through their media, MEMRI bridges the language gap between the West and the Middle East and South Asia, providing timely translations of Arabic, Farsi, Urdu-Pashtu, Dari, Turkish, Russian, and Chinese media, as well as original analysis of political, ideological, intellectual, social, cultural, and religious trends.

Founded in February 1998 to inform the debate over U.S. policy in the Middle East, MEMRI is an independent, nonpartisan, nonprofit, 501(c)3 organization. MEMRI’s main office is located in Washington, DC, with branch offices in various world capitals. MEMRI research is translated into English, French, Polish, Japanese, Spanish, and Hebrew.

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SOURCE: Middle East Media Research Institute

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