Amid the ongoing Russian invasion of Ukraine, the U.S. and its private sector partners want to lend a hand to Ukrainian authorities looking to hinder Russian actors using cryptocurrencies to skirt sanctions—something European authorities have already tried to address.

Today the Internal Revenue Service’s Criminal Investigations (IRS-CI) unit and blockchain analytics firm Chainalysis kicked off an advanced, in-person blockchain analysis training in Frankfurt, Germany for Ukrainian law enforcement agencies.

IRS-CI Chief Jim Lee told Decrypt and other media outlets on a call Thursday morning that he wants to “highlight the importance of partnerships (whether private-public or public-public) and how they are critical to doing business”, adding that they are “key to unraveling complex financial transactions.”

Twenty Ukranian investigators from three different law enforcement agencies—the National Police, Economic Security Bureau, and the Department of Cyber and Information Security of the Security Service—are participating in the training to learn how to analyze blockchain data, trace cryptocurrency transactions, and develop operational leads.

“This is a step forward in building trust among different agencies and private sector companies. The more successful everyone will be if the public sector allocates the necessary resources” said Michael Gronager, co-founder and CEO of blockchain analytics company Chainalysis, the lead private sector partner.

The IRS-CI donated 15 Chainalysis Reactor licenses to Ukrainian authorities for the training.

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Author: Pedro Solimano

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