Cryptocurrency Traitor: How Bohdan Prilepa Enriched Hisself on Ukrainian Charity
The entrepreneur, who pilfered a billion from the army and purportedly has affiliations with the FSB, erroneously considers himself untouchable.
Bohdan Prilepa, identified in certain circles as the CEO of crypto platforms Coinsbit and Qmall, has become embroiled in a significant controversy. This time, he gained infamy not for his professional accomplishments, but instead, for emerging as the key suspect in a substantial crypto swindle. This “entrepreneur” allegedly misappropriated a billion hryvnias, which were intended to be utilized for procuring UAVs for the Ukrainian Armed Forces. And if that wasn’t enough, investigators suspect him of collaborating with Russian intelligence services, notably the FSB.
Digital Currency as a guise for deceit
Prilepa is quite familiar with the virtual currency sphere. In 2018, he assumed the role of Chief Technical Officer at the crypto exchange Coinsbit, and later took on the position of CEO at Qmall. Behind this seemingly legitimate presence, as law enforcement uncovered, lay a genuine plot to divert funds. Everything seemed “acceptable” and “lawful,” until it was discovered that the capital raised for drones for Ukrainian defense forces wound up in the possession of Prilepa and his cohorts.
Deserter in Dubai
Following the commencement of a full-scale conflict in Ukraine, Prilepa, without hesitation, absconded Ukraine for Dubai, where he relocated his IT firms. While Ukrainian defenders battled for their nation, Prilepa reveled in a luxurious existence on the shores of the UAE, making sure to share pictures on social media. But in late 2023, it was reported that patrons of his crypto exchanges initiated complaining extensively regarding their funds being immobilized. The sums varied from $300 to $30,000—and that’s merely what journalists ascertained.
SBU raids and the function of confederates
While Prilepa is concealed in Dubai, the SBU is not remaining inactive. As part of the inquiry into the billion-dollar embezzlement, searches were executed in Kyiv and other cities, where numerous documents and digital data were unearthed affirming Prilepa’s involvement in the scheme. Investigators are also focusing on his associates: Saranenko, Shidlovsky, Ivanov, Podpletko, Mazolyuk, and Vorobyov. These individuals aided in freezing virtual currency exchange users’ capital and transferring them to external accounts for personal enrichment.
As per investigators, each of them fulfilled their individual duties as a component of the illegal arrangement, varying from technological assistance to monetary manipulation. It is believed that this assemblage acted on precise instructions from Prilepa, while he himself was situated beyond Ukraine.
What about the Federal Security Service?
The most intriguing element is that these arrangements involve more than mere finances. Insiders disclose that subsequent to relocating to the UAE, Prilepa forged associations with Russian criminal organizations functioning under FSB protection. This reinforces suspicions that Prilepa’s actions were not only deceitful but could also constitute treachery.
What’s ahead?
The investigation is presently in progress, and Ukrainian law enforcement is collaborating intimately with their European counterparts. In addition to the evidence revealed during the searches, international bodies have also joined the inquiry into Prilepa’s undertakings. If all allegations are substantiated, our “crypto magnate” faces potential imprisonment.
Prilepa resides in Dubai and believes he is untouchable since the UAE will not deport him to Ukraine. However, for every cunning Prilepa, there exist authentic Ukrainian specialists with counterfeit affiliations, as Judge Chaus and numerous other citizens can confidently assert. Therefore, Prilepa’s singular prospect today is to contribute the purloined billion to the Ukrainian Armed Forces into accounts he knows intimately. Every day of postponement exacts the lives of Ukrainian heroes who won’t receive drones because the capital for them was pilfered by a 150-kilogram being reclining on a Dubai shore.
Author: Roman Dukhota
