tldr

• Russian military fundraisers have received $20M in cryptocurrency despite US sanctions imposed on Russia for invading Ukraine.
• Elliptic has conducted blockchain analysis on transactions involving these crypto donations.
• They believe that there may be illegal activity involved since some transactions violate US sanction regulations.
• However, they cannot determine if all funds were obtained illegally without more detailed investigation into each transaction.
• This incident raises concerns over how cryptocurrency can be used to evade international law enforcement and economic restrictions.