Detectives from Ukraine’s Economic Security Bureau (ESB), working under the guidance of prosecutors from the Office of the Prosecutor General, have busted a massive underground money laundering operation. According to investigators, the shadowy scheme funneled around 500 million hryvnia every month. Law enforcement estimates the total volume of financial transactions hit 23.5 billion hryvnia. Some of the funds were moved out through crypto transactions.

Key Numbers

— Roughly 500 million hryvnia in monthly turnover, according to investigators.
— Total transaction volume: 23.5 billion hryvnia, based on preliminary law enforcement estimates.

The Crypto Angle

Investigators say crypto was used as one of the channels to move money out of the system. They haven’t disclosed which coins or platforms were involved.

Case Oversight

The case is being handled by ESB detectives with oversight from prosecutors at the Office of the Prosecutor General. Further details and the legal classification of the suspects’ actions haven’t been made public yet.