Two Former Ukrainian Police Officers Allegedly Kidnap Crypto Entrepreneur, Extort Over $2.2 Million

BlockBeats News, May 30th - The Ukrainian prosecutor's office has completed an investigation into a heinous crime targeting cryptocurrency professionals. The prosecutors stated that two former Ukrainian police colonels are suspected of leading a criminal group that illegally extorted around $2.2 million from several cryptocurrency entrepreneurs through kidnapping, unlawful detention, and extortion.

The investigation revealed that the group, composed of 4 former police officers and 1 civilian with a criminal record, used their law enforcement experience, official vehicles, and encrypted communication tools to carry out the crimes. The victims included at least 4 individuals in the crypto industry who were tracked, gunpoint kidnapped, and forced to hand over funds or sign fictitious debt documents.

One victim was gunpoint kidnapped in Kyiv, forced to sign a $5 million fake debt agreement, and then transferred to multiple secret locations for detention. The prosecutors stated that the group was dismantled in November 2025, all involved personnel have been dismissed from their positions, and the case has been transferred to the court for trial.

Reports indicate that cryptocurrency-related "extortion attacks" are on the rise. According to blockchain security firm CertiK, there were 72 verified cases of cryptocurrency violence extortion globally in 2025, a 75% increase compared to the previous year, with total losses exceeding $40.9 million. France has recorded 135 cryptocurrency-related violent incidents since 2023, with 88 suspects already prosecuted in April this year.