Prosecutors Say Two Police Colonels Ran Armed Extortion Ring Targeting Crypto Entrepreneurs

Ukraine prosecutors said they completed an investigation into a criminal group accused of extorting about $2.2 million from crypto entrepreneurs. The group allegedly consisted of four former police officers and one civilian, and prosecutors say one victim in Kyiv was forced to sign a fake $5 million debt agreement. The case adds to wider concern over physical coercion in the digital asset sector, with CertiK recording 72 verified crypto wrench attacks in 2025, up 75%, and losses exceeding $40.9 million.

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