November 4, 2026

Capitalizations Index – B ∞/21M

Russians Indicted for US Election Hacks Used Bitcoin to Fund Operations

Russians indicted for us election hacks used bitcoin to fund operations

Russians Indicted for US Election Hacks Used Bitcoin to Fund Operations

Russians indicted for us election hacks used bitcoin to fund operations

A group of Russian military intelligence officers indicted Friday as part of an ongoing investigation into interference in the 2016 U.S. presidential election allegedly used bitcoin to fund their operations.

In the just-released indictment, prosecutors assert that the 12 named intelligence officers hacked computer networks and email accounts owned and used by the U.S. Democratic Party, including the presidential campaign of Democratic candidate Hillary Clinton.

The details were included under a charge of conspiracy to launder money. According to the indictment, the defendants “conspired to launder the equivalent of $95,000 through a web of transactions structured to capitalize on the perceived anonymity of cryptocurrencies such as bitcoin.”

“In an effort to pay for their efforts around the world … the defendants paid for it with cryptocurrency,” deputy U.S. Attorney General Rod Rosenstein said during a press briefing.

While the defendants allegedly used other currencies, including the U.S. dollar, “they principally used bitcoin when purchasing servers, registering domains, and otherwise making payments in furtherance of hacking activity.”

Payments are said to have been made to companies in the U.S., with some of those funds being traced to a bitcoin mining operation.

The indictment explains:

“In addition to mining bitcoin, the Conspirators acquired bitcoin through a variety of means designed to obscure the origin of the funds. This included purchasing bitcoin through exchanges, moving funds through other digital currencies, and using pre-paid cards. They also enlisted the assistance of one or more third-party exchanges who facilitated layered transactions through digital currency exchange platforms providing heightened anonymity.”

The defendants allegedly used multiple “dedicated email accounts” to both track bitcoin transaction information and facilitate payments, the release added. Further, the indicted officials transferred bitcoin using the same computers that they used in hacking various email accounts

The indictment is the latest to come out of the ongoing – and politically explosive –  investigation into Russian election meddling and the possible involvement of members of the presidential campaign of U.S. President Donald Trump.

Robert Mueller, a former Federal Bureau of Investigation director, was appointed in May 2017 to lead the special counsel investigation, which has drawn the ire of Trump, who has vehemently denied any collusion on election meddling.

Rod Rosenstein image via Shutterstock 

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Published at Fri, 13 Jul 2018 16:55:52 +0000

Use Cases & Verticals[wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”]

Previous Article

Keith Urban – Blue Ain’t Your Color

Next Article

Enterprise Blockchain Consortium R3 Mulls IPO, Outright Sale: Report

You might be interested in …

Cryptocurrency BitConnect Coin Sees Sustained Growth Amid a Surge in Adoption

The UK-based bitcoin startup, BitConnect is experiencing a substantially consistent growth of its BitConnect Coin cryptocurrency. The sustained rise in user adoption follows the company’s announcement of record value and market capitalization, during Q1 2017.

[Note: This is a press release.]


BitConnect Coin is a community-driven, open-source, peer-to-peer cryptocurrency, designed for mass adoption and has a limited total supply of units. The cryptocurrency (BCC) entered the market in Q1 2017 and recorded a market capitalization of  $10 million (USD) and a value of $2.00 (USD), within weeks of its initial listing on CoinMarketCap.com.

BitConnect Coin

BitConnect Coin’s early growth saw the cryptocurrency enter the top 20 charts for alternative coins in total capitalization value for the first time in this quarter. Since this feat, the cryptocurrency has continued to grow and has continuously broken records in both value and market capitalization.

On April 13, 2017, BCC recorded a market capitalization of around $90 Million (USD) at a unit value of $15.01, signifying a 900% growth in market capitalization and a 700% increase in value over a period of about three months.

At this point, BCC surpassed the long established Litecoin (LTC) in terms of unit value and overtook Dogecoin (DOGE), in total market capitalization.

BitConnect trading chart

Since BitConnect Coin’s inception, it has seen rapid, yet steady growth, which has most likely been a result of an increased rate of adoption, a strong community base and the limited total of units in supply.

Unlike most other cryptocurrencies BitConnect does not require centralized exchange platforms and can be traded directly between community members, making trading the currency slightly easier than some of its alternatives.

Compared by some to bitcoin, which saw similar community growth, BitConnect Coin has seen a faster growth in terms of value. BitConnect Coin’s steady growth, expanding community and liquidity make it an interesting alternative currency for traders and crypto-enthusiasts.


Images courtesy of CoinMarketCap, BitConnect, Pixabay

The post Cryptocurrency BitConnect Coin Sees Sustained Growth Amid a Surge in Adoption appeared first on Bitcoinist.com.

Bitcoin: how it functions without central authority

Bitcoin: How It Functions Without Central Authority

Understanding the ‌Decentralized⁢ Nature of bitcoin’s Blockchain ‌Technology bitcoin operates through a network ⁢of nodes distributed globally, each holding a copy of the⁢ blockchain ledger. Unlike customary financial systems governed by centralized institutions, bitcoin’s security […]