Two men who exploited the chaos of the war in Ukraine for personal gain have been sentenced in the UK to 13 years in prison each, after laundering over $7.3 million through cryptocurrency.

💰 Exploiting Ukraine's Demand for Trucks and Supplies

Valeriy Popovych (52) and Vitaliy Lutsak (43) were part of a criminal network that purchased vehicles and equipment allegedly destined for Ukraine, using proceeds from illegal activities. These transactions were disguised as legitimate trade, but in reality, it was a large-scale crypto money laundering operation.

The two were found guilty on April 7 at Wood Green Crown Court following a five-week trial.

🏠 London Property and Millions in Crypto Wallets

Part of the laundered funds was used to purchase a luxury home in London worth over $1.2 million. During the investigation, British police uncovered that the gang channeled more than $14 million in crypto through digital wallets, stored on personal computers to conceal the origin of the funds.

A third suspect, Valeriy’s wife Oksana Popovych (42), is scheduled to be sentenced on May 30. A fourth member, Semen Kuksov, was already jailed in February for over five years.

⚖️ Crypto Loopholes Enabled a Shadow Business

Authorities confirmed the gang took full advantage of the lack of cryptocurrency regulation, which allowed them to move illicit funds with ease and build a multi-million-dollar operation in just over a year.

Investigators revealed the group not only laundered criminal proceeds but also ran an unregistered money services business, breaching UK financial laws.

🗣️ Police: They Turned War into a Business Model

Lead investigator Harry Davies of the Metropolitan Police said:

“Mr. Popovych presented himself as a hardworking, legitimate truck dealer. In reality, he ruthlessly saw the Ukraine conflict as a lucrative opportunity for profit.”

Special Crown Prosecutor Negeen Momtahen added:

“Money laundering is not a victimless crime. It enables criminals to continue harming lives. This conviction shows that crime in the crypto world won't go unpunished.”


Summary: Crypto, War, and Greed Collide

At a time when the world watches Ukraine suffer, this group created a profitable shadow operation—using crypto and fake legitimacy. But UK authorities sent a strong message: Money laundering won’t be tolerated, no matter how deeply it’s buried in the blockchain.


#MoneyLaundering , #CryptoCrime , #CryptoSecurity , #crypto , #CryptoNewss

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