Russia | ForkLog

ForkLog 16 21.03.2025

Illegal Mining Operations Halted in Karachay-Cherkessia with Seizure of 247 Rigs

In the Karachay-Cherkess Republic, law enforcement officials have shut down three illegal cryptocurrency mining operations. One of these operations caused damage amounting to 4.17 million rubles, according to a press release. The perpetrator rented a non-residential building on the outskirts of a village and installed 186 miners that operated around the clock. Modifications to the […]

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ForkLog 54 20.03.2025

Bitcoin Mining Farm Destroyed in Irkutsk Region Fire

A single-story residential house in the village of Baklashi, Irkutsk region, was destroyed by fire. The house contained a cryptocurrency mining farm, according to a report from the local Ministry of Emergency Situations (MChS). The incident occurred on the night of March 20. By the time rescuers arrived, the fire had engulfed the entire structure, […]

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ForkLog 28 20.03.2025

Garantex Operators Launch New Cryptocurrency Exchange

The shuttered Russian bitcoin exchange Garantex is transferring funds to a new platform named Grinex, according to analysts at Global Ledger. ‼️Compliance alert: #Garantex founders launch a new platform 1/ Following Garantex’s shutdown and #Tether freezing its wallets, the founders have launched Grinex. Here’s what we’ve uncovered ? pic.twitter.com/m28einnisn — Global Ledger (@GlobalLedger) March 19, […]

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ForkLog 14 19.03.2025

Russia Considers Law to Classify Cryptocurrencies as Property

The Russian government is reviewing a draft law to classify cryptocurrencies as property, aiming to address issues related to the seizure and confiscation of digital assets. This development was reported by RBC, citing a statement from Alexander Bastrykin, Chairman of the Investigative Committee. “Meticulous joint efforts have been made regarding the necessity of recognizing digital […]

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ForkLog 136 18.03.2025

Wallet explains its approach to freezing user wallets

Several Russian activists reported that their cryptocurrency wallets in Telegram’s integrated Wallet service were frozen, resulting in losses. The bot’s team outlined the grounds for such restrictions. What happened? Daniil Chebykin, co-founder of the Omsk Civic Association, said that in early February Wallet froze his cryptocurrency soon after the activist was added to Rosfinmonitoring’s list […]

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ForkLog 21 14.03.2025

Russian Oil Firms Turn to Cryptocurrency for Trade with China and India

Russian oil companies are employing cryptocurrencies, including Bitcoin, Ethereum, and the stablecoin USDT, for transactions in oil exports to China and India to circumvent Western sanctions. This is reported by Reuters, citing its own sources. Digital assets simplify the conversion of Chinese yuan and Indian rupees into Russian rubles. Sources note that while the share […]

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ForkLog 67 13.03.2025

Dogecoin Ranks Among Top Cryptocurrencies for Mining in Russia

Dogecoin (DOGE) has entered the top three most popular cryptocurrencies for mining in Russia, reported Deputy Anton Gorelkin, citing data from the ROCIT. The meme coin accounts for 8.4% of mining, trailing only Bitcoin (49.4%) and Litecoin (11.1%). DOGE is popular due to its support for merged mining with “digital silver”—LTC, which makes the process […]

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ForkLog 19 13.03.2025

Bank of Russia Proposes Trial Framework for Cryptocurrency Transactions

The Bank of Russia has proposed allowing qualified individuals to trade cryptocurrencies under a three-year experimental legal framework. The project has been submitted to the government for further discussion. For individuals, this entails a high threshold: an annual income of 50 million rubles or investments in securities and deposits exceeding 100 million rubles. March 13, […]

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ForkLog 23 12.03.2025

Russian Central Bank Cancels Bitcoin-Linked Bond Issuance

The issuance of two Russian structured bonds tied to the value of the leading cryptocurrency has been postponed by decision of the Central Bank. This was reported by Kommersant. The products in question are from the companies Finam and Rumberg Capital. The planned issuance volume was set at $2.15 million and 200 million rubles, respectively. […]

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ForkLog 85 12.03.2025

Russia Emerges as Leading Traffic Source for Bybit in February

In February 2025, Russian users accounted for 29% of the total traffic to the cryptocurrency exchange Bybit, as reported by journalist Colin Wu. Other platforms popular among Russians include Deribit at 10% and KuCoin at 5%. Activity on Deribit is partly linked to the platform’s announcement of terminating services for Russian clients in compliance with […]

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ForkLog 17 11.03.2025

Garantex Pledges to Compensate Clients for Frozen Crypto Assets

The exchange Garantex has announced the commencement of negotiations with users regarding the compensation of assets frozen at the behest of Tether. This was stated in a press release provided to ForkLog. Representatives of the platform declared that “despite the unprecedented nature of the situation, the company does not shirk its obligations to its users.” […]

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ForkLog 15 08.03.2025

Garantex Exchange Addresses Tether Asset Freeze

The team at Garantex exchange invited users to their Moscow office to resolve the issue of asset freezing by Tether. “We have developed a solution for the frozen assets and invite users with a positive account balance to a personal meeting,” the official statement reads. Clients are encouraged to submit an application via a Telegram […]

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