On May 18, according to Crowdfundinsider, the Kyiv Pechersky District Court ruled yesterday to transfer the cryptocurrency assets seized in a major fraud and illegal gambling case to the State Asset Recovery and Management Agency (ARMA). The involved crypto assets exceed 500 million Ukrainian hryvnias, approximately $13.5 million, including BTC, ETH, LTC, SOL, and USDT.
The perpetrators deceived users into depositing funds through unlicensed gambling platforms and fraudulent investment websites, using manipulative algorithms to embezzle 70% of user funds. The court ruling requires Binance to assist in the transfer of the involved assets and cooperate with Ukrainian authorities. ARMA will dispose of the assets through electronic auction, with proceeds to be added to the national budget.
