The National Anti-Corruption Bureau of Ukraine seized cryptocurrency worth over $1.5 million from Yuriy Schigol, the former head of the State Special Communications Service, on Friday.
This action is part of Ukraine’s increased efforts to combat corruption in its political system.
The former government official’s cryptocurrency holdings, including Tether (USDT), TRON (TRX), and Bitcoin (BTC), were confiscated due to allegations of embezzlement and money laundering.
Unlawful Software Deals
The Special Communications Service, responsible for facilitating communication between government agencies, made undisclosed software and service purchases from two companies. The NABU has accused Shchigol and his deputy, Victor Zhor, of being involved in a criminal conspiracy.
The purchases were made through closed doors to avoid an open bidding process.
Highlighting Ukraine’s commitment to combat corruption, the Supreme Anti-Corruption Court of Ukraine provided judicial support for this operation.
This incident underscores the effectiveness of Ukrainian authorities in addressing corruption related to digital assets, emphasizing the necessity for transparency in government transactions.
Total crypto market cap at $1.42 trillion on the daily chart: TradingView.com
In a digital era where transactions are increasingly dominant, Ukraine’s commitment to eradicating corruption is crucial for upholding public trust and ensuring the ethical use of public funds.
Crackdown on Cybercrime in Ukraine
In 2020, Ukrainian police apprehended a criminal suspected of selling personal information, including details about cryptocurrency wallets. Additionally, four Ukrainian citizens were arrested two years earlier for operating a fraudulent cryptocurrency exchange.
In 2021, several public officials disclosed holdings of 46,351 Bitcoin, valued at $2.7 billion at the time. Notably, a 19-year-old local legislator, who is the son of two members of the national parliament, revealed $24.6 million in Monero (XMR) holdings.
Meanwhile, 14 Ukrainian officials have completed an advanced course on investigating offenses involving digital currency to enhance their oversight of the industry amidst a surge in cybercrime.
The Organization for Security and Co-operation in Europe (OSCE) developed the course to improve the expertise of specific Ukrainian authorities.
The OSCE stated that seminar participants were trained in cutting-edge tools necessary to investigate crimes involving digital currency.
The OSCE has previously provided advanced digital asset training to Ukrainian officials and has indicated the possibility of additional courses in the coming months.
Previous training sessions have led to successful actions against dishonest individuals in the industry. For example, Ukrainian authorities collaborated with Tether, a stablecoin provider, to block addresses associated with terrorist activities.
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