Ukraine places $8.3M seized crypto under state management

Ukraine has, for the first time in its history, formally placed seized cryptocurrency under state management. The National Agency for Finding, Tracing, and Management of Assets (ARMA) announced that more than 8.3 million USDT, a stablecoin, has been transferred to a government-controlled wallet. The transfer, executed pursuant to a court order, establishes a new legal and operational precedent for handling digital assets seized in criminal investigations.

The cryptocurrency was obtained from wallets controlled by a suspected member of an international hacking group. According to the State Bureau of Investigation, the group is accused of carrying out cyberattacks against individuals and companies in Europe and the United States, stealing sensitive data, deploying ransomware, and laundering proceeds. Investigators estimate the group's activities caused damages exceeding 100 million.

In total, authorities have seized assets valued at over 11.1 million in connection with the case. This includes residential properties, vehicles, 1 million in cash, and the cryptocurrency. Four suspects, including the alleged organizer, have been detained and remain in custody pending trial. The funds...