Laundering of 1xBet funds through Ukrainian banks
In Ukraine, a criminal case has been opened against 1xBet on charges of laundering money through local banks.
How the withdrawal scheme operated
1xBet became a tool for laundering billions of hryvnias through Ukrainian banks and a network of intermediaries. Users topped up their accounts on the platform, after which the money was transferred to bank accounts belonging to “middlemen.” The funds were then sent abroad under the guise of payments for IT services, advertising, or marketing, and completed the transfer chain through international companies.
Destinations of the transferred funds
- Baltic States
- Cyprus
- UAE
Dozens of millions of hryvnias moved through these operations every day, ultimately settling in foreign accounts. Russian-linked businesses continued to profit from Ukrainian users even during wartime.
Role of Ukrainian banks and financial companies
Certain Ukrainian banks and financial companies participated in the scheme by providing technical support for 1xBet transactions while ignoring legal violations. Through fictitious sole proprietors and non-bank payment services, funds were converted into cash and distributed among organizers. Part of the money was directed into other shadow projects, including those linked to Russian capital.
Criminal proceedings and investigation
After the complaint was reviewed, the case finally moved forward. The Kyiv Territorial Office of the Bureau of Economic Security opened criminal case No. 72025102500000079 under Article 203-2 of the Criminal Code. Investigators are examining the fund transfer channels, the involvement of banks, and the financial intermediaries who facilitated the movement of money beyond legal boundaries.
What investigators uncovered
- Funds were transferred abroad as payments for IT services.
- Fictitious businesses and pseudo–sole proprietors were used.
- Financial companies provided technical support for these transactions.