BlockBeats report: On May 30, Ukrainian prosecutors concluded their investigation into a violent crime case targeting cryptocurrency professionals. Authorities allege that two former Ukrainian police colonels orchestrated a criminal gang that illegally obtained approximately $2.2 million from multiple cryptocurrency entrepreneurs through kidnapping, unlawful detention, and extortion.
The investigation revealed that the gang consisted of four former police officers and one civilian with a criminal record, who used their law enforcement experience, official vehicles, and encrypted communication tools to commit crimes. Victims included at least four individuals from the cryptocurrency industry, who were tracked, kidnapped at gunpoint, and forced to hand over funds or sign fabricated debt documents.
One victim was kidnapped at gunpoint in Kyiv and forced to sign a fraudulent debt agreement worth $5 million before being moved and held at multiple secret locations. Prosecutors stated that the gang was dismantled in November 2025, all involved individuals have been dismissed from law enforcement, and the case has now been transferred to court for trial.
Reports indicate that cryptocurrency-related "wrench attacks" are continuing to rise. Data from blockchain security firm CertiK shows that globally, 72 verified cases of cryptocurrency extortion were recorded in 2025, a 75% year-over-year increase, with total losses exceeding $40.9 million. Since 2023, France has documented 135 cryptocurrency-related violent incidents, and as of this April, 88 suspects have been charged.