Russian intelligence services are increasingly using cryptocurrencies to finance espionage activities in Europe, recruiting teenagers and untrained individuals to carry out intelligence tasks. A striking example of this is the story of Leiken Payven, a Canadian citizen who was recruited by the Federal Security Service of Russia at the age of 17.
This is reported by Бізнес • Медіа
How the FSB Recruits Teenagers and Makes Cryptocurrency Payments
After being radicalized online in 2023, Leiken Payven traveled to Donetsk to join the pro-Russian organization “Interbrigades.” There, he was detained by FSB agents, intimidated, and forced to cooperate with Russian intelligence. Payven was assigned a handler with the call sign “Elephant,” who coordinated his actions.
According to testimonies, after the briefing, the teenager set off for Europe. In Copenhagen, lacking cash, he contacted his handler for financial assistance. Payven received a Bitcoin transaction amounting to $130, and the total amount of cryptocurrency transfers exceeded $500. He was supposed to exchange this money in Poland.
However, in Warsaw, while in a state of intoxication and fear, Payven voluntarily approached the police and confessed to collaborating with the FSB. In December 2024, a Polish court sentenced him to 20 months in prison. The young spy admitted his guilt and cooperated with the investigation.
“Transactions from wallets linked to the FSB followed a structured money laundering scheme,” states the analytical report.
Cryptocurrency as a Tool of Hybrid Warfare
Analysts from Recoveris traced the path of the Bitcoins received by Payven and found that the transactions originated from large cryptocurrency wallets, likely controlled by the FSB. According to Global Ledger, one of these wallets processed over $600 million since its creation in June 2022.
Experts note that following the mass expulsion of Russian diplomats and agents from Europe since 2022, Russia has intensified the recruitment of teenagers and individuals with no experience in espionage activities. According to a NATO representative, such individuals are vulnerable, inexpensive, and in need of financial support.
Cryptocurrencies allow for the evasion of international sanctions, as significant sums can be instantly moved around the world without government oversight. At the same time, the transparency of blockchain ensures control over agents’ expenditures by intelligence agency leaders.
The incident involving Payven is not the only case of such practices. In 2023, a group of young Belarusians and Ukrainians was uncovered in Poland, receiving funding in cryptocurrencies to install cameras on railway tracks leading to Ukraine and spread pro-Russian propaganda. According to Recoveris CEO Marcin Zarakowski, wallets affiliated with the GRU and FSB regularly show activity.
In addition to espionage, Russia also finances private mercenaries in Donbas and bribes European politicians to promote pro-Russian and anti-Ukrainian narratives. Experts point out that cryptocurrency has become a key tool in implementing new forms of “hybrid warfare” — through the recruitment of youth and the use of digital assets as a means of payment and control.