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Media: Russian clients of foreign crypto exchanges are buying up accounts to bypass blocking

The supply of nominal accounts for working on cryptocurrency exchanges has doubled on the darknet. The service is in demand among citizens who are faced with blocking, as well as criminal groups.

According to experts of the Kommersant publication, the number of ready-made and verified crypto-wallets declared for sale on shadow trading floors has doubled compared to the beginning of 2022. At the beginning of January 2023, their number was estimated at about 400 units.

The average cost of a login and password to access a nominal account does not exceed $50. Several times more expensive, up to $300, the account data with a QR code for two-factor authentication, a full set of documents for which the account was registered, mail and other necessary data will cost the buyer.

The price depends on the country of registration, the date of registration, the age of the account, as well as the history of activity. The standard basic package contains login data, backup means for gaining access, online telephony details for receiving SMS, and a denomination passport.

From the point of view of Russian legislation, the fact of buying someone else's account does not constitute a violation or crime, since the account is not property. Unlike cryptocurrency, when making transactions with which it is necessary to pay personal income tax.

Theoretically, and with a very large number of reservations, it is possible to hold the owner of a nominal account liable under Art.. 174 of the Criminal Code of the Russian Federation “Legalization (laundering) of funds or other property acquired by other persons by criminal means”. However, in this case, it is necessary to collect an extensive evidence base and fix actions such as withdrawing funds from a cryptocurrency exchange to a personal bank account.

The apparent ease of access to a nominal exchange account carries for its future owner a number of significant risks of irretrievable loss of funds. In addition to deceiving buyers when a fact of illegal use is revealed, a fictitious owner is able to face a situation where the actual (according to the declared documents) owner can turn to the exchange with a request to steal account data.

A large-scale material has been released on the Bits.Media portal, revealing the main risks for miners, stakers and validators against the backdrop of constantly emerging speculative hype.