Ukraine busts crime group that extorted $800K from crypto family

The National Police of Ukraine has detained an organized crime group led by a local “overseer” of Kolomyia. Among the victims was a family of cryptocurrency entrepreneurs, from whom the criminals demanded $800,000 as an alleged “debt.”

According to investigators, the gang consisted of 12 members operating in Ivano-Frankivsk region and beyond. The group included known crime figures and so-called “overseers” of cities, districts, and even correctional facilities — many with prior convictions for serious offenses.

The criminals used intimidation, threats, and blackmail to demand money from residents. The extorted amounts ranged from $8,000 to $800,000, with the crypto family targeted for the largest sum.

Searches conducted across nine regions led police and the SBU to seize weapons, cars, cash, and handwritten records.

All 12 suspects were charged under Part 4, Article 189 of Ukraine’s Criminal Code (extortion). They face up to 12 years’ imprisonment with asset confiscation. All remain in custody.