Ukraine Transfers $8.3 Million in Seized USDT to State Agency as Crypto Reserve Plans Advance

Ukraine has transferred more than $8.3 million worth of USDT into state management for the first time, marking a major step in the country’s handling of seized digital assets. The transfer was carried out under a court order, with the funds sent to a crypto wallet controlled by the National Agency for Finding, Tracing and Management of Assets (ARMA), the government body responsible for managing property seized in criminal investigations.

According to Prosecutor General Ruslan Kravchenko, the transferred assets are worth about 372 million Ukrainian hryvnias.

Funds Linked to International Hacker Group Investigation

The cryptocurrency was seized during an investigation by the State Bureau of Investigation into an alleged international hacker group accused of attacking individuals and businesses across Europe and the United States. Investigators said the group stole sensitive data, demanded ransom payments and laundered the proceeds through real estate, luxury vehicles and other high-value assets in Ukraine.

Authorities have detained four suspects, including the alleged organizer, although none have been convicted. Investigators estimate the group’s activities caused more than $100 million in damages.

Crypto Reserve Discussion Gains Momentum

The transfer comes as Ukraine explores the creation of a strategic crypto reserve. Similar to the U.S. approach, officials are considering using cryptocurrencies confiscated through criminal and civil cases rather than purchasing digital assets on the open market.

Although ARMA now controls the USDT, the assets have not been permanently confiscated. Ownership can only be transferred to the state after a final court conviction. So far, authorities have seized more than $11.1 million in assets, including homes, apartments, vehicles, $1 million in cash, and digital assets worth over $8.3 million.