Prosecutors Say Two Police Colonels Ran Armed Extortion Ring Targeting Crypto Entrepreneurs
According to Ukraine prosecutors, investigators completed their case against a group including four former police officers and a civilian, while industry data shows verified crypto wrench attacks rose sharply in 2025.
Fact Check
Multiple independent outlets (Decrypt, Crypto Briefing, Antikor, Odaily) corroborate that Ukrainian prosecutors announced on May 28, 2026 that four former police officers (including two colonels) and one civilian are accused of kidnapping crypto entrepreneurs in the Kyiv region and extorting over $2.2 million. Antikor cites the Ukrainian Prosecutor General's Office Telegram channel as the primary source. The claim's specific details (two colonels, four officers + one civilian, Kyiv region, $2.2M) match the reporting precisely.
Summary
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.
Terms & Concepts
- Crypto entrepreneurs: Founders or business operators involved in the digital asset sector, including cryptocurrency ventures and related blockchain businesses.
- Extortion: A criminal act in which money, property, or signatures are obtained through threats, force, or coercion.
- Crypto wrench attacks: Physical attacks or threats used to force victims to hand over cryptocurrency, wallet access, or related assets.