Monday, July 15, 2019

Russian Opposition Leader Raises $3 Million in Bitcoin Donations

Russian opposition leader, Alexei Navalny has been receiving Bitcoin donations for the past three years in a bid to raise funds for his political movement. On the other hand, there have been allegations that funds which were received of late were as a compensation to the exposés of government officials published by its investigative center, according to Coindesk’s report on April 24.

Alexei Navalny Accepts Bitcoin Donation for Fundraising

Per the report, Alexei Navalny who is believed to be Vladimir Putin, Russia’s president main opposition has been raising funds using Bitcoin in order to support his political movement. Contributions via bank transfers (Sberbank or Alfa-Bank) and Paypal are also accepted. In the case of Bitcoin donations, the address publicized on Navalny’s website reveals that 593 Bitcoins valued at about $3 million have been received since December 2016.

A closer look at the wallet address also reveals that occasionally, withdrawals are made from the wallet in bits of Bitcoin and even a full Bitcoin. There has also been a 20 Bitcoins withdrawal at once and generally, 2124 transactions have been made from/to the wallet.

Donations from This Week Trigger Suspicion to FBK’s Publication

On the other hand, the donations received earlier this week triggered some suspicion that Navalny’s investigative center was paid for its recent publication. The center is called Anti-Corruption Foundation (FBK) and it publishes exposés of government officials as well as Dimitri Medvedev, the country’s prime minister and Yuri Chaika, an attorney general.

The suspicion was brought to public attention by media channels such as FBK Staffer’s Confession, an anonymous Telegram channel and Tsargrad TV, a Russia media outlet. FBK Staffer’s Confession, for instance, pointed out that prior to the publication by Navalny’s investigative center, large donations were made to the wallet.

Media Outlet Contacts FBK’s Chief of Staff Regarding Claims Rumors

Leonid Volkov, FBK’s chief of staff who was also contacted by another media in regards to the claim denied that a connection exists with its recent investigation and the funds received. According to him, the anonymous writer “dragged the non-existent facts together in by the head and shoulders.”

Volkov also said:

You can say that each time Encke’s Comet approaches the Earth it coincides with a big war: 1914 (First World War), 1941 (World War II) and 2014 (War on Eastern Ukraine). But its rotation period is three years, and it approached the Earth many times when there were no big wars.

Asides from the Russian opposition leader accepting Bitcoin donations, further reports reveal that the same can said about some Russian online platforms. Some instances of this are the Roskomsvoboda, an internet freedom movement as well as Zona.Media and The Insider, both investigative outlets.

Grace Joseph
Freelance Writer, Blogger, and Crypto Enthusiast. Studied Computer Science in University and Undergoing a Masters Degree Programme in Computer Engineering [email protected] [email protected]

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