Beware of crypto scams: Political organizations report impersonators soliciting Bitcoin and Ethereum donations related to Iran issues

March 10 News: Russia’s main political alliance, the “All-Russian People’s Front,” recently issued a warning that scammers are exploiting geopolitical sentiments by forging donation documents to trick some Russian citizens sympathetic to Iran into sending cryptocurrencies such as Bitcoin, Ethereum, and Ripple to designated addresses.

Sergey Gorbunov, Vice Chairman of the organization’s Executive Committee, stated that all cryptocurrency fundraising activities under the name of the “All-Russian People’s Front” are scams. The organization emphasizes that it has never accepted any form of cryptocurrency donations, and the only legitimate channel is through bank transfers via its official website.

It has been disclosed that some forged documents have recently circulated in Russian-language Telegram groups. These documents use the organization’s logo, address, and official slogans to appear credible. They list multiple cryptocurrency wallet addresses and call on supporters to donate, claiming the funds will be used to purchase generators, heating equipment, clothing, and educational supplies for children.

The scam documents also claim that the fundraising is part of an initiative called “All for Victory.” In response, the All-Russian People’s Front clarified that such an initiative does exist but is solely intended to support Russian soldiers fighting in Ukraine, with all funds managed through official channels. The organization emphasizes that any donation requests involving cryptocurrency addresses are false.

Meanwhile, Russian security agencies continue to crack down on cross-border fund transfers involving cryptocurrencies, especially those providing financial support to Ukrainian armed groups or other organizations deemed illegal.

On a broader regional level, cryptocurrencies are playing an increasingly important role in the flow of political and military funds in the Middle East. Blockchain analysis firm Chainalysis released a study in early 2026 indicating that Iran’s crypto ecosystem reached nearly $8 billion in 2025, with some on-chain addresses linked to the Iranian Islamic Revolutionary Guard Corps.

Bitcoin researcher Jake Percy recently stated that Iran is leveraging its low-cost electricity to develop Bitcoin mining, potentially providing funding for regional military activities. He estimates that the cost to mine one Bitcoin in Iran is about $1,300, while current market prices remain well above that level.

As the use of cryptocurrencies in global politics, finance, and gray funds continues to expand, scams involving crypto donations tied to hot-button events are also on the rise, posing new security challenges for regulators and users.