UK Sanctions Five Crypto Platforms Tied to Russia's $90B A7 Network

Britain just cut five crypto platforms out of its financial system, accusing them of helping Russia move money around sanctions.

Who actually got hit

The UK sanctioned three crypto exchanges and two payment platforms on October 8, part of a package of 38 new designations aimed at Russia's wartime economy.

Three of the targets are tied to Kyrgyzstan, and the government says two of them processed or facilitated transactions with a network called A7. Four of the companies trace back to one parent: Xeltox Enterprises, a Vancouver-registered firm behind Cryptomus, Heleket and Certa Payments.

Kyrgyzstan-based exchange TokenSpot was named too, alongside payment platforms Tsunami Payments and Processing KG, which operates VexPay.

A7 is the real target

A7 is the Kremlin-backed network that issues A7A5, a ruble-pegged stablecoin the UK says exists to slip past sanctions on Russia's financial sector. Last year the network claimed to have moved more than $90 billion — roughly half of Russia's annual military expenditure.

Chainalysis had been tracking these platforms well before the designation landed. Its analysis found Cryptomus and Heleket took in funds from thousands of illicit counterparties, a count that spiked past 900 in a single month in late 2025.

Money from TokenSpot, Grinex and Meer all converged on the same HTX deposit address, which received more than $308 million.

What it means if you trade

This is not just an asset freeze. The four companies also face internet services sanctions, which force social media platforms, ISPs and app stores to take reasonable steps to stop UK users from reaching their sites and apps.

The direction of travel matters more than the list itself. The UK already sanctioned HTX and Huobi in May over A7 links, and Washington has designated A7 a transnational criminal organization.