Financial platforms and banks are increasingly scrutinizing transactions linked to Russia. Users often face account closures or legal risks due to P2P trading, transit transfers, and receiving income from Russian sources while residing in the EU.
One case involved a user in Lithuania who spent two years receiving salary from a Russian company via Bybit and Wirex. The bank eventually demanded proof of income, leading to account closure. Experts warn that living in the EU on Russian-sourced income is increasingly difficult and risky.
Another common issue involves 'buyers' who use crypto fintechs like RedotPay for cross-border trade. One user had their account frozen after receiving 100,000 USDT in 'dirty' crypto, requiring extensive verification to regain access.
Direct SWIFT transfers from Russia also carry high risks. A user attempting to send funds via OTP Bank faced potential losses of up to 10% due to unfavorable exchange rates and intermediary bank blocks, which often result in non-refundable commissions.
Using banks solely for transit—receiving and immediately forwarding funds—often leads to 'shadow bans' or account termination. For instance, one user was blocked by a Kazakh bank after three transit transactions, while Revolut has begun requesting detailed documentation for any transfers originating from CIS banks.
