The State Financial Monitoring Service of Ukraine has uncovered a network for bypassing sanctions against Russia and financing terrorism, linked to a Ukrainian national's account on an unnamed cryptocurrency exchange. This was reported by the head of the agency, Filipp Pronin.
Approximately $13 million passed through the specified account, with $3.5 million directed to services under sanctions in Russia and accounts affiliated with an international terrorist organization. The Ukrainian national in whose name the account is registered resides in one of the EU countries, Pronin noted.
No traces of trading or investments were found on the account; the agency believes it was used solely for money laundering and transfers. Assets were received from external crypto wallets, exchanges, and trading platforms without verification procedures.
They were then sent to non-custodial crypto wallets belonging to entities linked to Russia and Iran, including the Islamic Revolutionary Guard Corps (IRGC).
According to Pronin, the account owner took certain steps to conceal traces of illegal activity. Specifically, he resorted to using a VPN.
The agency claims this individual is linked to 35 organizations in various jurisdictions, which may indicate traces of a cross-border money laundering and sanctions evasion network. The State Financial Monitoring Service has transferred the case materials to law enforcement for further investigation.
Previously, we reported that Ukrainian police exposed a fake crypto academy. Under the guise of training, the perpetrators deceived victims out of money. The total damage is estimated at $1.1 million.
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