Monthly 500 million UAH: the conversion center operated through cryptocurrency

The Bureau of Economic Security, under procedural guidance from the Office of the Prosecutor General, uncovered a cross-transaction center with total operations of 23,5 billion UAH, through which about 500 million UAH passed monthly, according to the Office of the Prosecutor General and BEB Director Oleksandr Tsyvinsky in Telegram.

According to Tsyvinsky, this refers to “envelopes” with an approximate monthly turnover of almost 500 million UAH. Since 2023, through them “went” 23,5 billion UAH. The Office of the Prosecutor General clarified that this is the total volume of financial operations, and the preliminary amount of tax evasion is about 3 billion UAH. The department’s message also notes that the organization was moving funds through cryptocurrency.

During 50 searches in Kyiv, Kharkiv, and Odesa, unaccounted cash amounting to millions of hryvnias was seized. Participants in the scheme have already been notified of suspicions.

“That is the case when for participants in a criminal scheme the day did not go as planned,” Tsyvinsky wrote.

According to him, the network of conversion centers was uncovered in partnership with the State Border Guard Service and Cyberpolice.

Officials promise to disclose details of the operation in the Office of the Prosecutor General on 21 September.

According to Article 62 of the Constitution of Ukraine, a person is considered innocent of committing a crime until proven guilty in a lawful manner and by a court verdict.