250 Millions of dollars through a single crypto wallet: what ties to the owner Favbet’s Andriy Matyukha’s “black” accounting

Data on crypto transactions may indicate a large financial infrastructure tied to Matyukha’s business.

This is reported by the Telegram channel “Overheard in Gambling.”

According to the investigators, one of the crypto wallets they link to Favbet staff and other related projects has, over its entire history, processed roughly $250 million, of which more than $93 million were in the most recent 60 days.

According to the authors, the wallet regularly receives numerous payments, which they associate with user deposits, and large sums are subsequently withdrawn. More than $200 million, per their data, was transferred to AlphaPo Deposit—a crypto service that investigators link to opaque operations.

Another roughly $21 million is said to have arrived at another crypto wallet. Through it, in total reportedly about $700 million passed, with more than half of the funds also directed to AlphaPo.

The investigators call these wallets part of a possible “black” accounting system for Matyukha and suggest that funds connected to employee payments and betting and other projects may pass through them.

At the same time, the mere fact that funds pass through crypto wallets does not prove ownership by Matyukha, the origin of each payment, or tax evasion. Making such conclusions requires data about address owners, transaction purposes, and confirmation from law enforcement or financial authorities.