Alexander Vechirko, a 54-year-old Russian citizen, has been formally charged with high treason by Russia’s intelligence agency, the FSB. Vechirko was arrested in June for allegedly donating cryptocurrency to Ukraine’s military amid the ongoing conflict.
The FSB believes Vechirko “used cryptocurrency” to make transfers to third parties in Ukraine, who then purchased equipment like drones, sights, ammo, and uniforms for the Ukrainian armed forces.
Vechirko is the first Russian to face treason charges specifically for sending crypto donations. A Moscow court denied him bail and ruled he must stay in pre-trial detention ahead of his trial.
Earlier this year, Russian President Vladimir Putin signed a decree that raises the penalty for treason to life imprisonment. The FSB says its investigation into Vechirko’s case is ongoing.
Vechirko’s arrest comes as the Ukrainian military has been soliciting crypto donations from the start of the war. Major Russian bank Sberbank estimated over $5 million in crypto has flowed from Russian wallets to Ukraine since the conflict began.
Vechirko may not be the last Russian charged for crypto-related aid to Ukraine. The case highlights how cryptocurrency is being used to finance both sides of the war, while evading sanctions and capital controls.
