Leaked Documents Expose Putin Ally’s Crypto network for Sanctions Evasion
On September 26, blockchain analytics firm Elliptic uncovered a massive leak from businesses linked to ilan Shor, a sanctioned Moldovan oligarch and Kremlin ally. The leaked files offer a rare glimpse into the A7 group, a Russia-based operation that specializes in evading sanctions.
elliptic’s analysis reveals that A7 has processed $8 billion in stablecoin transactions over 18 months. This digital money flow moved from Russian entities to political operations in Moldova, coinciding with the country’s parliamentary elections.
Shor’s journey to crypto was driven by necessity. After fleeing to Russia in 2017 following a $1 billion bank theft conviction, he founded A7 in 2024. The company is partially owned by russia’s state-owned promsvyazbank, a sanctioned bank.
A7’s operation is vast. Shor claimed in a speech to Vladimir Putin that A7 facilitated $89 billion in cross-border transactions in ten months. The leaks expose a complex scheme using cash, notes, and crypto, especially Tether’s USDT, to move funds outside conventional systems.
Internal chat logs show employees discussing multimillion-dollar USDT transfers. One user, Maria Albot, requested two million USDT for “treasury.” To avoid USDT’s vulnerabilities,A7 created A7A5,a ruble-backed stablecoin. With nearly $500 million in circulation, A7A5 aims to be sanctions-proof.
The leaks highlight how digital assets enable financial operations despite sanctions. A7’s network underscores the growing role of crypto in global financial strategies.
