Ukraine Seizes $500,000 in Crypto Assets

In Ukraine, crypto assets worth $500,000 were seized in a money laundering case involving the iGaming operator 1win, report dev.ua.

Court Ruling in Kyiv

Crypto Account Seizure

On January 27, the Podilskyi District Court of Kyiv seized a crypto account belonging to an unnamed Ukrainian citizen on the Bybit exchange, holding more than 500,000 USDT.

The decision was made as part of a criminal investigation into money laundering linked to the online casino 1win, which does not hold a licence in Ukraine.

Cyber Police Investigation

Use of Crypto Exchanges

The Cyber Police found that the suspect used crypto wallets on the Binance and Bybit exchanges to withdraw and launder funds connected to the operator.

Over the entire period, a wallet on Binance received 662,500 USDT, including 215,000 USDT transferred directly from 1win.

A wallet on Bybit received 503,700 USDT, including 142,400 USDT transferred directly from the online casino.

Transaction Analysis

Chainalysis Data

The investigation confirmed, using the Chainalysis platform, that a significant share of transactions across both wallets falls under the gambling category.

Law enforcement agencies established that both crypto accounts belong to the same Ukrainian citizen.

Measures Against the Exchange

Blocking of Funds

The court ordered the Bybit exchange to block the suspect’s crypto account immediately upon receipt of the court ruling.

The use and disposal of the seized virtual assets are prohibited.