Ukraine's ARMA Takes Direct Custody of $8.3M in Seized USDT

Ukraine's Asset Recovery and Management Agency (ARMA) received its first direct custody of seized cryptocurrency last week – $8.3 million in USDT transferred into its own wallet.

The move follows an operation against an international hacking group that targeted individuals and companies across Europe and the U.S. The group extorted victims, laundered proceeds through real estate and digital assets, and caused total estimated damages exceeding $100 million. Only $11.3 million has been recovered so far.

ARMA stressed the seizure was the result of coordinated work between the State Bureau of Investigation and the Office of the Prosecutor General. "The prompt actions of law enforcement authorities ensured the seizure of the assets and the implementation of the court decision transferring them into state management," the agency said.

This is the first time ARMA has managed seized crypto in its own wallet rather than through a third-party custodian. The agency described the transfer as evidence that Ukraine's asset management system is adapting to modern criminal methods. "If criminals use digital tools to conceal illicit proceeds, the state must also be prepared to manage such assets effectively, ensuring their preservation and the enforcement of court decisions," ARMA concluded.

The case underscores a slower uptake than some headlines suggest. While reports occasionally cite Ukraine holding 46,000 BTC, ARMA's statements confirm the country has not received significant amounts of bitcoin or other cryptocurrencies from criminal seizures.

The three men detained in connection with the hacking group are alleged to have participated in a kidnapping in central Kharkiv. The investigation continues.