Police have recovered more than 60 million hryvnias stolen by a hacker from businesses

The Lviv Regional Police have concluded a pre-trial investigation into a 22-year-old suspect who used malware to steal 127 million hryvnias from the accounts of Ukrainian companies. The suspect infected the digital ecosystems of companies that regularly donate to the Armed Forces of Ukraine and transferred assets through a network involving over 100 front individuals. 

The Cyber Police of Ukraine reports that the fictitious accounts have been frozen and most of the funds have been returned to their owners.

To launder the stolen funds, the young man invested them in cryptocurrency and luxury cars. Law enforcement officers detained the perpetrator, and an indictment under three articles of the Criminal Code of Ukraine has already been sent to court. The suspect now faces up to 15 years in prison with full confiscation of property.

Coordinated efforts by the cyber police and investigators allowed for the swift detection of the scheme and minimization of losses for the business. While Russia carries out external aggression, domestic security agencies are focused on protecting the economic sector from cyber threats. The recovery of 60 million UAH resulted from the effective blocking of banking transactions in the accounts of front men. The fate of the remaining stolen funds is being determined through legal proceedings. The issue of transparency and security of digital systems remains a priority for Ukrainian law enforcement.

The Ternopil Cyber Police, in collaboration with investigators from the Chortkiv District Police Department, has concluded an investigation into a high-profile case of fraud on an especially large scale. 

In another case, a fraudster posed as a banker and defrauded a pensioner of 64,000 UAH.