Russia to Employ AI in Tackling Bitcoin Crime

Russian law enforcement agencies plan to adopt new technologies to combat DeFi-related crimes involving virtual assets. This was announced by Russia’s Prosecutor General Igor Krasnov.

The department has already established a unit dedicated to integrating artificial intelligence into prosecutorial activities and has approved a corresponding three-year plan.

“Alongside digital currency, other types of virtual assets are being used to commit cybercrimes. We are witnessing the emergence of a new type of so-called DeFi-crime, which needs not only to be curbed but also predicted, including with the help of neural networks,” Krasnov noted.

Additionally, a working group has been established at the UN platform for international cooperation on combating cybercrime.

Krasnov mentioned that Russia has achieved certain results in its efforts against the criminal circulation of cryptocurrencies.

“Last year, for the first time at an interstate level, we initiated the seizure of virtual assets on the Binance exchange belonging to members of a criminal community, stolen from citizens through fraud,” the Prosecutor General stated.

The department employs the “Transparent Blockchain” tool from Rosfinmonitoring in its operations.

In June, the Russian Prosecutor General’s Office announced oversight of cross-border cryptocurrency transfers by Russians using special software.

By 2030, Rosfinmonitoring will receive 10.61 billion rubles to develop a digital platform to combat money laundering. One of its functions will be monitoring cryptocurrency transactions to ensure the de-anonymization of bitcoin wallet owners.

In October, it was revealed that the central bank will study international transactions related to the acquisition of digital assets conducted through 19 credit and financial institutions.