Overview
- Elliptic’s Jan. 22 analysis links A7A5 to earlier Russia-associated platforms including Garantex and traces concentrated settlement flows on Ethereum and TRON.
- Exchanges and some DeFi protocols have frozen or blocklisted addresses while US, UK and EU actions target linked entities, following the EU’s October 2025 prohibition.
- Activity has cooled with no major issuances since late July 2025, daily turnover down from over $1.5 billion to roughly $500 million, and a market cap near $540–$547 million on about 42.5 billion tokens.
- Trading depends on ruble and USDT pairs with conversions often routed through regional venues such as Grinex, aligning with business-hours activity that signals institutional settlement.
- Issuer-led tactics to preserve circulation include reissuing tokens to new wallets and deploying off‑chain instruments such as physical notes.