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Automatically translated version. May contain inaccuracies compared to the original.
The investigation uncovered a sprawling system that links Ukraine’s legal market, offshore schemes in Curaçao, a Belarusian trail, and a powerful cryptocurrency circuit worth hundreds of millions of dollars. What billion-dollar penalties the state has imposed, why assets were seized, and how the company’s shadow flows operate.
Triple-layered business empire: from Ukraine to Curaçao and Belarus
According to investigators, Andriy Matyukha’s business empire is built on several levels spanning different jurisdictions:
Offshore zone: The international direction operates through the company Favorit United N.V. in Curaçao (official license OGL/2024/300/0596). In Casino Secrets materials, it is noted that Matyukha transferred 17 thousand shares to Vedran Frelih for a nominal $17 thousand ($1 per share). Through this structure, the Lopebet project continues to operate.
Cryptocurrency trail: In August 2025, the company’s crypto policy was signed by MLRO Yevhen Pyroh, a name that matches the former Compliance Manager of Ukrainian Favbet.
Belarusian trail: Despite statements about exiting the Belarusian market in March 2022, there was a long-running operation of LLC “Favbetbel,” associated with the British firm Andalidi Invest LTD, which Matyukha led until autumn 2022. Moreover, in Belarus three Favbet trademarks remain in force, with validity extending to 2028–2029 years.
Crypto millions: how the shadow wallet operates
Attention is drawn to the revealed crypto circuit that investigators associate with settlements of Favbet and related projects:
Scale of transactions: The main wallet, in just 60 days, circulated more than $93 million, and over its entire history its turnover reached approximately $250 million.
Transfer characteristics: Funds enter via small transactions but are withdrawn in much larger sums. In particular, more than $200 million were sent to the AlphaPo Deposit service.
Related addresses: A second associated address transferred about $700 million over its entire history; its current balance exceeds $17 million, and further transfers also mostly go to AlphaPo.
Billion-dollar sanctions, seizures, and tax proceedings in Ukraine
In Ukraine, the activity of the gambling operator is accompanied by serious legal and financial issues:
Asset seizure: In November 2025, a court ordered the seizure of funds of BC Favbet, Casino.ua, and two individuals, placing the assets under management of ARMA. In this circuit, 907 million UAH of seized funds figures.
Sanctions and loss of licenses: In April 2026, PlayCity discovered in Favbet Game Slots 108 gaming machines without verified inspection. The companies had their licenses for slot halls canceled and sanctions imposed amounting to over 933 million UAH. Subsequently, two more structures in the gaming circuit lost their licenses.
Tax cases (BEEB): The main investigation of the Bureau of Economic Security (case No. 72022000400000003 from 19 September 2022) concerns tax evasion on a particularly large scale through six Ukrainian banks. A so‑called miscoding was used — conducting gaming transactions under the guise of other operation codes. Earlier tax shortfalls on GGR were estimated at about 2022 billion UAH for 1,8 year.
Serious charges: Separate proceeding No. 62025000000000876 (since 26 August 2025) investigates possible creation of a criminal organization, money laundering, aiding an aggressor state, and possible cover‑up of the business by law enforcement.
Against this backdrop, internal company issues are also noted: after large layoffs of more than 130 employees, projects related to it publicly reported payment delays, partial wage payments, and internal polygraph checks as staff sought to recover owed salaries.
Document: PDF proof of the original version of the news item "$250 млн у крипті та арештовані мільярди: нові деталі масштабного скандалу навколо Favbet Андрія Матюхи". It records the publication content at the moment of the first scan, the preservation date and the source: Aktsenty.
