Ukraine Places Seized Crypto Under State Management for the First Time

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Ukraine has transferred more than $8.3 million in seized cryptocurrency into state management for the first time, marking a milestone in the country's approach to recovering digital assets linked to criminal investigations.

The funds, held in the stablecoin USDT, were transferred to a wallet controlled by the National Agency for Finding, Tracing and Management of Assets (ARMA). According to Ukraine's Prosecutor General's Office, this is the first time seized crypto assets have been formally placed under the agency's management.

The cryptocurrency was seized from an alleged member of an international cybercrime group accused of carrying out ransomware attacks against individuals and organizations in Europe and the US. Ukrainian authorities said the group stole sensitive data, demanded ransom payments, and laundered proceeds through purchases of real estate, vehicles, and other high-value assets. Estimated damages exceed $100 million.

Authorities have detained four suspects so far, including the alleged organizer of the group. In total, more than $11.1 million in assets have been seized, including cryptocurrency, cash, vehicles, and property.