Photo by Mykhaylo Palinchak
Cyber experts from the Security Service of Ukraine, in collaboration with the National Bank of Ukraine (NBU) have successfully blocked a large-scale money circulation channel between Russia and Ukraine, which operated using cryptocurrency technologies and prohibited Russian payment systems.
The illegal network of underground conversion centers, operating in four regions, was dismantled, each channel processing over one million US dollars monthly.
These criminal activities exploited sanctioned Russian money transfer systems such as YooMoney and Webmoney, as well as cryptocurrencies. The offenders facilitated the withdrawal of Russian rubles from the territory of Russia by converting them into cryptocurrencies and then converting them into UAH.
The primary clients of these criminals were hackers and representatives of commercial structures involved in shadowy commodity exchanges and financial transactions with the aggressor country.
The cryptocurrency conversion was carried out in underground conversion centers, posing as currency exchange points, in Kyiv, Kharkiv, Rivne, and Sumy. An investigation is ongoing to establish all circumstances of the crime and hold all other participants in this unlawful activity accountable.
These comprehensive actions were conducted under the procedural guidance of the Office of the Prosecutor General.
