UK Sanctions Three Crypto Exchanges Tied to Russian Illicit Funds
Ecosystem
- English
- News
- Markets
- Features
- Research
- Opinion
- Podcasts
- Newsletters
- Commissioned
- About
Cryptocurrency Prices (as of Oct 9, 2026)
| Cryptocurrency | Price | Change (%) | | --- | --- | --- | | DOGE | $0.08635 | 1.78% | | TRX | $0.3307 | 0.40% | | LINK | $12.81 | 0.14% | | ZEC | $1,220.97 | 0.15% | | ADA | $0.2511 | 6.89% | | XRP | $1.40 | 0.98% | | ETH | $2,494.30 | 0.19% | | BTC | $82,658.79 | 0.42% | | XMR | $518.31 | 3.44% | | BNB | $746.27 | 0.65% | | XLM | $0.1959 | 0.84% | | SOL | $109.80 | 0.19% | | HYPE | $84.01 | 1.31% |
Article Content
UK sanctions three crypto exchanges tied to Russian illicit funds
Latest News
Published: Oct 9, 2026
The UK government has sanctioned three cryptocurrency exchanges and two payment platforms, suspecting their involvement in helping Russian entities evade financial sanctions.
- Sanctioned Exchanges and Platforms:
- Three exchanges linked to Kyrgyzstan.
- Two platforms facilitating transactions with the Kremlin-backed A7 network.
According to the UK Foreign, Commonwealth & Development Office (FCDO), these sanctions aim to restrict access to funds for sanctioned entities, particularly the A7 financial network, which moved over $90 billion in 2025, nearly half of Russia’s annual military expenditure.
Key Findings:
- Blockchain analytics platform Chainalysis discovered that two payment processors, Cryptomus and Heleket, received funds from thousands of illicit entities, peaking at 900 in a single month in late 2025.
- Another sanctioned platform, TokenSpot, was also tied to the A7 network, receiving over $308 million from the same HTX deposit address along with Grinex and Meer.
In May, UK authorities included Huobi Global, operator of crypto exchange HTX, in their sanctions list. HTX disputed the decision, arguing that the designation applies only to Huobi Global and that its online exchange and user funds remain unaffected.
Cointelegraph has reached out to TokenSpot, Cryptomus, and Heleket for comment.
Related: