Ukraine has transferred Seized Crypto Assets worth more than 8.3 million USDT to the country’s Asset Recovery and Management Agency (ARMA), marking the first time virtual assets have been placed under the agency’s management following a court decision. The transfer follows an investigation led by the State Bureau of Investigation into an international hacking group accused of carrying out cyberattacks, extortion, and money laundering across Europe and the United States.
According to Ukrainian authorities, the transferred cryptocurrency is valued at more than 372 million hryvnias and represents a milestone in the country’s efforts to manage digital assets linked to criminal investigations.
Seized Crypto Assets Moved to ARMA After Court Order
The State Bureau of Investigation said the transfer was completed as part of an ongoing criminal investigation conducted in cooperation with the DVB of the National Police and U.S. law enforcement agencies.
Investigators determined that the virtual assets were stored in crypto wallets controlled by a member of the organized hacking group. Following a court order, more than 8.3 million USDT was transferred to ARMA’s official crypto wallet.
Authorities said this is the first practical case in Ukraine where seized digital assets have been transferred to ARMA for management, demonstrating the country’s ability to handle new categories of assets within the legal system.
Investigation Links Cryptocurrency to International Hacking Group
According to investigators, members of the international hacking group carried out large-scale cyberattacks against individuals and companies in Europe and the United States.
The investigation alleges the group stole confidential information, demanded ransom payments, and laundered criminal proceeds in Ukraine through the purchase of residential properties, vehicles, and other high-value assets.
Authorities estimate that the criminal group’s activities caused losses exceeding $100 million.
As part of the pre-trial investigation, four members of the group, including its alleged organizer, were detained and placed in custody.
More Than $11 Million in Assets Seized
The investigation resulted in the cryptocurrency seizure and the confiscation of additional assets with a combined value exceeding $11.1 million.
According to the State Bureau of Investigation, the seized property includes residential buildings, apartments, vehicles, approximately $1 million in cash, and digital assets equivalent to more than $8.3 million.
The Office of the Prosecutor General is providing procedural oversight for the criminal proceedings.
Authorities Plan to Convert Crypto Into Military Bonds
The State Bureau of Investigation said that after converting the cryptocurrency into fiat currency, authorities plan to purchase military bonds.
According to the agency, the initiative is intended to support Ukraine’s economy during martial law while ensuring that assets obtained through criminal activity are redirected for state purposes.
Officials described countering transnational cybercrime and ensuring effective mechanisms for the seizure and management of criminal assets as key priorities.
ARMA Expands Digital Asset Management
ARMA said receiving the cryptocurrency marks an important step in the evolution of Ukraine’s asset management system.
The agency stated that the successful transfer reflects coordinated efforts between the State Bureau of Investigation and the Office of the Prosecutor General, enabling the execution of the court’s decision and preserving the value of the seized assets.
ARMA added that it is continuing to develop mechanisms for managing all categories of seized property, including real estate, corporate rights, and virtual assets, to ensure their preservation in the interests of the state and society.
The agency said the case demonstrates that as cybercriminals increasingly use digital technologies to conceal illicit proceeds, authorities must also strengthen their ability to manage and preserve cryptocurrency and other digital assets seized during criminal investigations.
