Is Russia buying Moldovan elections with $114M in crypto?

An alleged €100 million ($114.4 million) funding scheme from Russia targeting Moldova’s elections has put crypto forensics experts on high alert.

In what President Maia Sandu described as an election interference campaign by Russia using crypto payments, she claimed yesterday that €100 million worth of digital assets will fund electoral corruption and vote-buying schemes, in addition to untold sums of fiat and labor for additional propaganda.

Moldova’s parliamentary elections commence on September 28.

Crypto-funded political interference would be part of a multi-pronged strategy to install Moscow loyalists, she claimed.

The Kremlin has denied any plans to interfere in the September elections and Sandu provided no direct evidence in her speech.

Frustratingly, Moldova and Russia have published conflicting histories on many past occurrences. For example, Moldova accused Russia of interfering in its presidential election as well as an EU referendum last year.

Moscow, for its part, denied involvement in both of those votes.

In recent months, cybersecurity officials in Moldova have reported a sharp increase in phishing attacks targeting government officials and election infrastructure. Russia denies responsibility or involvement in those attacks.

Read more: US sanctions Russian money laundering network that used USDT

Protos has covered a previous instance of Russian involvement in foreign elections. In December 2024, an obscure, pro-Russia engineer earned last-minute support from millions of TikTok followers whose key opinion leaders allegedly received financial compensation.

US law enforcement has found several instances of Russian interference in US elections.