Ukraine Seizes $8.3M in USDT from Alleged Hacking Group

Ukraine has taken its first step in managing seized cryptocurrency, transferring over $8.3 million in USDT to a wallet controlled by ARMA, its asset-recovery agency.

The funds were seized from an alleged member of an international hacking group accused of ransomware attacks on victims in Europe and the U.S., with estimated damages topping $100 million.

The group's activities also included stealing confidential data, demanding ransoms, and laundering the proceeds in Ukraine by buying real estate, cars, and other high-value property. Four people, including the alleged organizer, are in custody, with over $11.1 million in assets seized, including homes, vehicles, and $1 million in cash.

The transfer of USDT to ARMA's wallet marks a milestone for Ukraine, which has become one of the world's largest government holders of crypto. The country has legalized virtual assets and is advancing a bill to tax and regulate the market along EU lines as part of its bid for European Union membership.