TechFlow news, May 18 — According to Crowdfund Insider, the Pechersk District Court in Kyiv, Ukraine has authorized the transfer of virtual assets seized during a major fraud and illegal gambling investigation to Ukraine’s State Asset Recovery and Management Agency (ARMA).
The order concerns digital wallets registered with cryptocurrency exchange Binance, belonging to a Ukrainian citizen identified in court documents as "ОСОБА_6", who is suspected of money laundering through unlicensed platforms such as rollbit.com.
Authorities traced significant amounts of allegedly fraudulent funds held in wallets linked to the Binance accounts, including Bitcoin, Ethereum, Litecoin, Solana, and USDT, distributed across multiple sub-accounts associated with a primary Binance user ID. The total seized value exceeds 500 million Ukrainian hryvnias (UAH), well above the threshold requiring state oversight under Ukrainian law.
The court's decision also requires Binance, registered in Seychelles as Nest Services Limited, to execute the asset transfer and cooperate with Ukrainian authorities. ARMA is expected to sell these assets via its official electronic auction platform, fulfilling its mandate to manage confiscated property and return value to the state budget.
This broader criminal investigation was launched in early 2022 and remains ongoing, involving charges of fraud, money laundering, and violations of Ukraine’s gambling ban, potentially linked to organized cybercrime networks using decentralized finance platforms to obscure fund flows.
