Russia may have used cryptocurrencies to interfere in elections

Research firm Elliptic claims that cryptocurrencies have enabled Russia to influence the parliamentary elections in Moldova, scheduled for September 28.

A data leak has revealed the workings of the Russian A7 group of companies, founded in 2024 by disgraced Moldovan politician and businessman Ilan Shor, who was found guilty in his home country of stealing $1 billion from three banks.

A7, a 49%-owned organization by Russian state-owned bank PSB, allegedly helps businesses circumvent economic sanctions and conduct cross-border money transfers using digital assets, including dollar-pegged coins. Tether (USDT) and ruble stablecoins A7A5 (A7A5), issued by the Kazakhstani company Old Vector.

After reviewing A7’s internal documents, Elliptic employees discovered that the organization was funding campaigns aimed at influencing the outcome of elections in the Republic of Moldova. Specifically, the organization’s employees paid USDT to political activists and illegal pollsters to create a false impression among voters about the balance of power. They also used cryptocurrency to transfer digital assets. Telegram- a bot that identified users and transferred Toncoin (TON) cryptocurrency to them.

The scale of A7’s operations can be gauged by the fact that between June 2024 and August 2025, $8 billion worth of virtual currencies were transferred to the company’s crypto wallets. Given that specialists were unable to identify all of the company’s crypto storage facilities, Elliptic experts believe the actual transaction amount was much higher. At the same time, it is clear to the naked eye that the volume of cryptocurrency transfers is growing, indicating that A7’s capabilities are expanding.

The value of digital assets sent to A7 crypto wallets at the end of the month

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