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Cryptocurrency Worth $1.5M Seized From Former Ukrainian Head of State Communications

The seizure was supported by the Supreme Anti-Corruption Court in Ukraine.

By Oliver Knight
AccessTimeIconDec 1, 2023 at 5:05 p.m. UTC
Updated Mar 8, 2024 at 5:55 p.m. UTC
Ukraine flag (Max Kukurudziak/Unsplash)
Ukraine flag (Max Kukurudziak/Unsplash)
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The National Anti-Corruption Bureau of Ukraine (NABU) has seized $1.5 million worth of cryptocurrency from Yuriy Shchigol, Ukraine's former head of the State Special Communications Service, according to local news outlet RBC.

The seizure, which involved $1.2 million worth of tether (USDT) and 6.9 bitcoin (BTC), was supported by the Supreme Anti-Corruption Court in Ukraine.

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    • Schigol and his deputy, Viktor Zhor, allegedly siphoned state money allocated to purchasing equipment and software before converting the proceeds to cryptocurrency.

    The scheme was facilitated by several companies that attempted to keep the crypto conversions a secret.

    Shchigol has reportedly been taken into custody as a preventative measure, law enforcement said.

    In 2020, Ukrainian police arrested a hacker accused of selling personal data, including crypto wallet information. Two years before that, police swooped in and arrested four Ukrainian citizens for operating a fraudulent crypto exchange.

    Edited by Aoyon Ashraf.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight
    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Follow @OKnightCrypto on Twitter

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