Virtual assets are already on the BEB’s radar: crypto does not mean there is no financial trail

On 25 August, the Bureau of Economic Security of Ukraine reported uncovering a large-scale conversion centre in the Kyiv region which, according to the investigation, was used to conduct shadow payments in the agricultural sector.

According to the BEB, the scheme involved more than 60 controlled entities showing signs of fictitious activity.

Agricultural products were allegedly purchased for cash without recording the transactions in accounting and tax records. Documents containing false information about the origin, value, and characteristics of the goods were then prepared for their subsequent sale or export.

However, another aspect of this case is particularly important.

According to the investigation, part of the proceeds was converted into virtual assets.

The BEB expressly states that this was done to conceal the origin of the funds and avoid financial monitoring. Detectives are currently examining the movement and origin of those funds.

This is an important signal not only for the agricultural sector.

Only a few years ago, many people viewed cryptocurrency as an asset whose movement was virtually impossible to trace. Today, the situation has changed fundamentally.

Law-enforcement authorities increasingly analyse virtual assets as part of an overall financial chain: where the money originated, how it entered a crypto asset, which addresses and services it passed through, and where it was ultimately transferred.

Moreover, the BEB is already seeking specialists experienced with Chainalysis and TRM Labs, specialised tools used to analyse blockchain transactions.

For digital-asset owners, having access to a crypto wallet is therefore no longer sufficient.

They must also be prepared to answer a more difficult question: where did the funds used to acquire the assets come from, and can the complete financial trail be documented?

This is particularly important where substantial amounts are involved, where transactions relate to business activity or international transfers, or where funds are subsequently transferred into the banking system.

Cryptocurrency itself does not prove that a transaction is unlawful. However, the lack of documented evidence of the source of funds may create problems during financial monitoring, tax reviews, or criminal proceedings.

For this reason, a legal and tax audit of digital assets should be conducted proactively — not only after a bank blocks a transaction or law-enforcement authorities begin asking questions.

Source: Bureau of Economic Security of Ukraine, 25 August 2026.

WINNER Law Firm advises digital-asset owners and businesses. We help structure virtual-asset transactions, substantiate the source of funds, assess tax and criminal-law risks, and prepare for financial monitoring.

Would you like legal advice regarding digital assets?

Phone: 096 574 81 02
Email: info@uk-winner.com

You can seek legal support now so that you do not later need criminal-defense representation.

Author: Ihor Yasko, Managing Partner at WINNER Law Firm, PhD in Law