Ukrainian Court Rules to Transfer Approximately $13.5 Million in Cryptocurrency Involved to State Asset Management Agency

BlockBeats News, May 18th. According to Crowdfundinsider, the Kyiv Pechersk District Court ruled yesterday to transfer the seized cryptocurrency from a major fraud and illegal gambling case to the State Asset Recovery and Management Agency (ARMA). The involved cryptocurrency assets amount to over 5 billion Ukrainian Hryvnias, approximately 13.5 million US dollars, including BTC, ETH, LTC, SOL, and USDT.

The criminals lured users to deposit funds through unlicensed gambling platforms and fake investment websites, using algorithm manipulation to misappropriate 70% of the users' funds. The court's decision requires Binance to assist in the transfer of the assets in question and cooperate with Ukrainian authorities. ARMA will dispose of the assets through an electronic auction, with the proceeds going to the state budget.