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One of the main events that involve the world economy in 2022 is the conflictbetween Russia and Ukraine. This event offers a rare opportunity to analyze howevents of this magnitude can reflect the use of cryptocurrencies. This workaims to investigate the behavior of accounts and their transactions on theEthereum cryptocurrency during this event. To this end, we collected alltransactions that occurred two weeks before and two weeks after the beginningof the conflict, organized into two groups: the collection of the accountsinvolved in these transactions and the subset of these ones that interactedwith a service in Ethereum, called Flashbots Auction. We modeled temporalgraphs where each node represents an account, and each edge represents atransaction between two accounts. Then, we analyzed the behavior of theseaccounts with graph metrics for both groups during each observed week. Theresults showed changes in the behavior and activity of users and theiraccounts, as well as variations in the daily volume of transactions.

Analysis of account behaviors in Ethereum during an economic impact event