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Canada Ceases 34 Crypto Wallets Connected to Trucker Convoy

Canada Ceases 34 Crypto Wallets
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The Canadian government has ceased transactions from 34 wallets deemed to be involved in funding truck driver protests in Canada.

Canada is facing civil unrest as truck drivers from around the country protest against Government’s vaccine mandate. The protestors received donations in cryptocurrency from 34 accounts. The transaction details of the donations were circulating on Twitter.

Donors were previously sending the money to the GoFundMe account which was later suspended after the funding of $8 Million. Afterward, they turned to crypto and sent digital assets worth $870,000 as donations.

Also Read: Bitcoin to be treated as Currency in Russia

The identified list of donating wallets includes 29 Bitcoin addresses, one Ethereum address, one Cardano address, one Ethereum Classic address, one Litecoin address, and one Monero address.

All financial firms are told to stop facilitating transactions from these 34 accounts. The financial authorities are also investigating the cryptocurrency donations that went into support for Trucker Convoy.

A week-long protest is ongoing in Canada against the vaccine mandate imposed by Trudeau Government. The protests are made illegal under the Emergencies act enacted by Prime Minister Justin Trudeau.

The protest is one of its kind in Canada. Trucks are placed on International Borders and several other entrance points to other provinces. Vaccine mandates make COVID-19 vaccination mandatory for people reaching into the country.

Canada is also upping the ante in terms of Anti- Money Laundering and Anti-Terror Financing Laws. All crowdfunding platforms, digital payment services providers such as PayPal, Stripe, and crypto payment service providers will need to register with the Financial Transactions and Report Analysis Centre of Canada (FINTRAC).

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