The traffic of Russian users on global cryptocurrency exchanges has surged, as the country's central bank warns of the risks of Western sanctions

ChainCatcher message, according to a recent study by the Central Bank of Russia, trading by Russian citizens on global trading platforms has surged in the past two quarters, prompting officials to warn that users face increased risks. During this period, visits to some leading cryptocurrency exchange websites exceeded 104.6 million, marking a 16.4% increase compared to web traffic in the second and third quarters of 2023.

Additionally, the average monthly number of independent Russian users on major cryptocurrency exchanges grew by 15.1%. In the first quarter of 2024, these users accounted for 7% of the total traffic on these platforms, although this is still below the peak of 9% in the first quarter of 2023.

The report also highlights the potential risks posed to users by the increased adoption of cryptocurrencies. Specifically, if Western countries intensify pressure on digital asset issuers, Russian users may face additional challenges and uncertainties.