NFT-platform Dapper allows Russians to withdraw assets

The project team offered customers to withdraw their tokens from the Dapper wallet to the Blocto wallet

18.10.2022 - 14:15

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2 min

What’s new? NFT platform Dapper will allow Russian users affected by the eighth package of EU sanctions to withdraw their NBA Top Shot, NFL All Day, and UFC Strike NFT tokens from the Dapper wallet to the Blocto wallet. The company also notes that its previous actions to freeze Russian customers' accounts were the result of a directive from Circle, which serves as Dapper's payment processing partner. This was reported by The Block.

Information on The Block's website

How did events develop? On October 6, the Dapper Labs team froze the assets of Russian users, adding that the accounts were not blocked. The users were able to view their NFTs, and they also retained ownership. However, the ability to sell, buy or transfer NFTs was completely unavailable.

What is known about Dapper Labs? The founder and CEO of the company is Roham Gharegozlou. Dapper Labs launched the blockchain game CryptoKitties on the Ethereum network in 2017 and the blockchain Flow in 2020. The latter builds an ecosystem supported by leading sports associations, including the NBA, UFC, and NFL.

On October 8, the Finnish crypto exchange LocalBitcoins stopped serving Russian users. An exception was made only for people with dual citizenship of the European Economic Area and Switzerland. Blockchain explorer and cryptocurrency wallet service Blockchain.com will start blocking the accounts of Russians on October 27, until then they can withdraw their funds. Accrual of rewards has already been discontinued. Users of the Crypto․com exchange were also notified about the termination of service.

To find out which exchanges are imposing restrictions on customers from Russia and how the new sanctions will affect users of hardware wallets, see GetBlock Magazine's articles.

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