Ukraine has taken another important step in developing its system for managing seized assets. For the first time in its history, ARMA has received virtual assets into management pursuant to a court decision.
More than 8.3 million USDT, equivalent to over UAH 372 million, has already been transferred to the Agency’s official crypto wallet. This is the first practical case of seized digital assets being transferred to ARMA’s management and confirms the state’s readiness to work with new types of assets.
The transfer of the crypto assets to ARMA’s management was the result of the professional and coordinated efforts of the State Bureau of Investigation and the Office of the Prosecutor General. The prompt actions of law enforcement authoritiesensured the seizure of the assets and the implementation of the court decision transferring them into state management.
The cryptocurrency was seized as part of criminal proceedings concerning the activities of an international hacking group. According to the investigation, its members carried out large-scale cyber attacks against individuals and companies in European countries and the United States, obtained illegal profits through extortion, and laundered the proceeds by purchasing real estate, vehicles, and other valuableassets in Ukraine.
According to preliminary estimates, the total damage caused by the group’s activities exceeds USD 100 million. During the investigation, law enforcement officersdetained four suspects, including the organizer of the scheme. The total value of theseized property exceeds USD 11.1 million, including real estate, vehicles, cash anddigital assets.
The transfer of crypto assets to ARMA’s management demonstrates that the statesystem for managing seized assets is evolving in line with modern challenges. Ifcriminals use digital tools to conceal illicit proceeds, the state must also be preparedto manage such assets effectively, ensuring their preservation and the enforcement ofcourt decisions.
ARMA continues to develop mechanisms for managing all types of seized assets –from real estate and corporate rights to virtual assets – ensuring their properpreservation in the interests of the state and society.
