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Ukraine Officials Fail to Account for Millions in Declared Crypto Assets

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Ukraine Officials Fail to Account for Millions in Declared Crypto Assets. Many politicians and government officials in Ukraine have made large investments in cryptocurrencies, according to personal asset reports. According to local media, some of them have been unable to establish ownership or account for their digital assets.

Lawmaker Loses Over 40 BTC With Stolen Vehicle in Ukraine

According to an audit of his 2020 statement cited by the “Slovo I Dilo” blog, Dmitry Gurin, a member of Ukraine’s parliament from President Zelensky’s Servant of the People party, reportedly lost a significant sum of bitcoin to auto thieves. The digital money, according to the deputy, stored on a hardware wallet. That was taken with his car earlier this year.

According to Forklog, the lawmaker’s wife, Maria Saltykova, owned 42 BTC worth an estimated 22.5-million-hryvnia last year (approximately $840K at current hryvnia rates or over $2M at current BTC values). Gurin had not filed any documentation proving the correctness of this information, according to Ukraine’s National Agency for Corruption Prevention (NAPC).

The lawmaker, who operated his own advertising firm for a decade, gave a verbal explanation. Claiming that the car, as well as the crypto wallet containing the money, was taken on April 21. He further stated that the matter is under investigation by the Dnipro police department in eastern Ukraine.

Gurin isn’t an exception among Ukraine’s political elite. Oleksiy Kucher, the head of the State Regulatory Service (SRS), had failed to verify ownership of an even larger crypto hoard earlier in September. Kucher owned 77 BTC worth around 13.1M hryvnia at the time of purchase (nearly $490K at current hryvnia values). According to his statement submitted in December when he left the office of Governor of Kharkiv Oblast.

Ukrainian politicians acknowledged holding cryptos valued at more than $2.2 billion currently

The coins would have brought in more than $3.7 million if sold at the time of writing. Since 2001, tax filings reveal that the official and his family have earned less than 1M hryvnia (about $37K) in salary. This, according to NAPC, suggests that Kucher lied about his bitcoin ownership. The agency went on to say in a news statement dated Sept. 6:

“Bitcoin has a public address which confirms that it belongs to a certain person. The head of the SRS was unable to provide a public cryptocurrency address.”

According to the Opendatabot program, which monitors public registers, 652 Ukrainian politicians acknowledged holding a total of 46 351 BTC (valued at more than $2.2 billion currently). As well as other cryptocurrencies such as ETH, LTC, BCH, and XMR in their 2020 assets reports. The National Agency for Corruption Prevention committed to double-check these figures this spring.

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